I'm extremely interested in investing in the Detroit Housing Market and I'm therefore looking for information from others that are interested too. I'm interested in Detroit, because although there are issues that are occurring there, I know that it'll soon turn around and be a thriving city again and I'd like my first piece of real estate to be there. What is your experience with the Detroit market and how has it worked for you?
Start by searching the forums and reading everything you can here. There are dozens of threads that start off the same way you've started this one. I'm sure you'd get more/better information once you've done some due diligence and have some specific questions.
I've just closed on my third rental property in Detroit over the course of the last two months, and I'm under contract on a duplex now too.
@Celeste Dafeu-Owens I had invested in 2 properties - 1 in 2017, 1 in 2018. Rentals are ok and could be more reliable, ie in my experience I habe changed 2 tenants within a period of 2 years, with rehab costs incurred. I think it's gonna be biblical if things will get better fingers crossed. Will decide in 2019. Here are my 2 property addresses, they are managed by property management companiesas I don't reside in Detroit. I see great potential, which obviously comes with greater risks.
16500 Lasalle Ave, 48221
16445 Liberal St, 48205
Hope others will provide some professional experiences and help.
I'm extremely interested in investing in the Detroit Housing Market and I'm therefore looking for information from others that are interested too. I'm interested in Detroit, because although there are issues that are occurring there, I know that it'll soon turn around and be a thriving city again and I'd like my first piece of real estate to be there. What is your experience with the Detroit market and how has it worked for you?
I'm a local investor that lives and invest in Detroit. My experience has been great from finding great deals in cash-flowing neighborhoods. I've kicked it in high gear this year but I say the most important factors in the Detroit market is location and doing your due diligence.
Start by searching the forums and reading everything you can here. There are dozens of threads that start off the same way you've started this one. I'm sure you'd get more/better information once you've done some due diligence and have some specific questions.
I've just closed on my third rental property in Detroit over the course of the last two months, and I'm under contract on a duplex now too.
@Travis Biziorek , @Keyonte Summers , and @Jimmy Christanthio , thanks for all of the responses. I am definitely researching and being diligent on finding a great deal, however I am afar, so I'm really having to knit-pick through everything and approach all of the information shared with confidence and humility. I don't want to get into a bad deal, and I am definitely eager to hop in. So I'll continue searching the threads and being more specific as you've suggested Travis, I'll stay diligent as you've suggested Keyonte, and I'll keep looking for the potential as you've also mentioned Jimmy. Thanks to all of you for your responses, because any little bit helps as I'm trying to piece together the puzzle pieces for a bigger picture.
@Travis Biziorek , @Keyonte Summers , and @Jimmy Christanthio , thanks for all of the responses. I am definitely researching and being diligent on finding a great deal, however I am afar, so I'm really having to knit-pick through everything and approach all of the information shared with confidence and humility. I don't want to get into a bad deal, and I am definitely eager to hop in. So I'll continue searching the threads and being more specific as you've suggested Travis, I'll stay diligent as you've suggested Keyonte, and I'll keep looking for the potential as you've also mentioned Jimmy. Thanks to all of you for your responses, because any little bit helps as I'm trying to piece together the puzzle pieces for a bigger picture.
If you ever need help just reach-out. @Travis Biziorek congrats bro keep it going I just closed on another home Friday and using delayed financing, which I never knew of before you brought it up.