Investing in Detroit?

Question

Account Closed · Answer

There are a lot of opportunities in the Metro Detroit Area. I would only suggest that you link up with someone that knows the city. For example, I would only invest into turn key section 8 rental properties in the inner city (guaranteed cash flow), if you want to go the "FIX AND FLIP" route Indian Village, Sherwood Forest and Rosedale Park are great and if you want to focus on the suburbs Oakland and Macomb County are looking very promising these days. Otis Gathing.

Thank You.

Edmon Ussery · Answer

There is a high demand for a nice home in a nice area within the city. Most guys go for rental income but a fix a flip in an elite are within the city is good. Sherwood Forest, Indian Village and Rosedale Park would be my pick on fix and flips especially if you offered land contract terms with healthy down payments. These areas also have minimum risk for vandalism due to good home owner neighbors and block clubs. Sherwood Forest and North University District are hot right now. North Central part of the city where you can access multiple routes for the the metro area. You can make 20-40k pretty fast if you have a good team. East English Village CLOSE TO THE GROSSE POINTE BORDERLINE is also a good one. You can still flip in other areas but the best way would be to another investor with tenant in place, section 8 approved, brick, warranty deeds, nice area and perform tax appeals to reduce property taxes. I see guys make around 20k on these but they do 3+ at a time a month. Hope this helps.

Kenneth W. · Answer

thanks for the info.

Aaron Yates · Answer

@Kenneth Woods , lots of posts about this lately. Search Detroit and you will find lots and lots and lots of them.

But in short. It depends whether you mean in the city limits or the bordering cities. If in the city, it depends on the neighborhood. Some are good. Some are bad.