I'm looking at some of the pockets of homes between Pontiac and Auburn Hills Michigan and wondering if anyone here is investing in those areas and what the experience has been? THANKS!
Auburn Hills has quite a bit of industry with GM, Oakland University, OCC, and other various engineering companies. I find it’s a decent rental market due to a lot of younger people/families coming to the area for jobs/school.
Another big thing is due to all of the commercial industry (the entire Meijer/Walmart plaza is considered Auburn Hills) in Auburn Hills, the city has a lot of tax revenue coming in which you see in how they try and keep it pretty well maintained.
About 18months ago the city sent around a letter to some of us owners letting us know of their plans to expand the downtown area, and they redid some of the street parking to accommodate that it seems. There’s some new apartments directly in downtown which I’ve heard will have a shuttle going between there and Oakland which will be great for the students so they won’t NEED a car. Hopefully it’ll bring some of the on campus students to downtown also to help business.
Across from the funeral home in downtown is a pretty decent size abandoned lot that I was looking into purchasing, after some research I found out it was actually purchased by the city a few months prior to me looking, so there’s plans in the works.
Now with regard to Pontiac... I’m still trying to figure that one out. There’s a lot of cheap housing, and there seems to be quite a bit going on in the downtown area on the weekends. Concerts, parties, etc.. I feel it’s going to follow along the same path as downtown Detroit. Slowly start coming back to life starting from the center out, not sure what kind of timeframe, but it’s definitely on my radar to keep an eye on.
I'm not so much looking at downtown Pontiac mainly the sport within a mile or so of 75 and university.
Did you end up buying anything in Pontiac? I am looking at qudruaplex near the 24 and Woodward. There seem to be a lot of abandoned buildings around the unit (Google Maps).
There is a condo at 75 and University that would make a great rental. I have all details, master deed, etc. PM me for details.
Does anyone have any opinions/experience with multiunit rents in the downtown Pontiac area?
Screening and knowing the neighborhoods street by street is essential in Pontiac. There are a lot of investment dollars going into the Woodward corridor in general. Do you have a specific question about Pontiac. I live and invest in the city....
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