Metro Detroit Investors

4 Replies

http://www.trulia.com/property/3154571983-1415-Gregory-Ave-Lincoln-Park-MI-48146

Tell me what you think of this place.....

Bryan,

This looks like a great place for a rental. I do not have much information on Detroit or its market but to me with that price it looks good. From the outside of the house it looks like it has been kept in good/fair condition. Another thing you have to like about this property is it is in a acceptable neighborhood. When I think of a 1 bedroom like this, I think of someone tired of living in a apartment but does not have a funds to rent out a 2 or 3 bedroom house. I can see this place having very low vacancy for years to come!

Not many will rent one bed.

Not many will rent 2 for the same reason. But a 3 bed for 10k more. Or in Ecorse

I also live in Lincoln Park at the moment. I have put bids on 1 bedroom house up in Warren. This should be an easy rent. I like these properties.

@Bryan Dracka , I have never been interested in 1 bedroom houses (there may be nothing wrong with them they just don't fit my portfolio) and I don't know Lincoln Park but it should be fairly easy to determine if there is a demand for this type of housing. Call several property managers and get their opinions. Also, place a test ad on Craigslist for a similar style house at the rental rate you would like to obtain and gauge the response. There is no need to place the address of the house in the ad. Just mention the neighborhood.

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