Detroit, is this a good place to invest?

[Daniel Methven]

I am very new to investing, I haven't even made my first deal yet. I do think im in the right place to start tho. For a first time investor where would you say i should be financially? How much money should i have to get started in Detroit. I know houses are goin for cheap but would you say its safe to invest there due to the high crime rates?

[Scott K.]

Originally posted by @Daniel Methven:

I am very new to investing, I haven't even made my first deal yet. I do think im in the right place to start tho. For a first time investor where would you say i should be financially? How much money should i have to get started in Detroit. I know houses are goin for cheap but would you say its safe to invest there due to the high crime rates?

WOW I have not been a member of BP for long. But how many of these threads do I have to see about Detroit.

Unless you have millions or are connected to get downtown or midtown chances are you will be in the ghetto.

Have you been to the neighborhoods in Detroit? I am not talking Ford Field, CoPa, or the casinos. I am talking the real Detroit.

Do you watch the news? Why would you want to deal with the ghetto? Do you own a gun? Would you be willing to go to your investment house at night? Are you wanting section 8?

There are still deals that are not in the warzone that can get good returns on rentals.

How much money do you have to start with?

Not trying to sound negative but to start out in Detroit is not smart.