Detroit 8k rents $650 good hood, 7k reno see it live.

3 Replies

@Matt Rosas Some of these guys clean up...

I buy rentals out of state in Northen Indiana, and cities like Gary are just like Detroit, burned and boraded up homes, the gangs are bad drugs etc...But the simpe concept is even in hte roughest cities they are people would need homes, there are husbands with families that need homes. I personally wor with a guy "hes my ground guy for Indiana"..hes has been living off his rentals for 15 years, he has a passive income of more than 15k a month. He buys them super cheap (3k-5k) puts a little work in them...rents them to section 8 tenant for $650 and up...However these type of investors are built different, they are usually hometown guys who have a high amount of respect in the city. It works out because he lives there, he can drive by anytime he wants, he manages them on his own. He has had his share of horrible tenants, but havent we all....Seeing your responce this type of investing wouldt be for you, theyd run you out of the city...LOL

For sure Jason. I was not thinking for myself but it is educational either way.

thanks,

Matt

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