Charlotte, NC · Member since 2014 · 241 posts · 21 votes
while listening to a podcast one of the host talked about the real estate in Detroit an how he believe it may be a upward trending market. I was wondering is anybody currently buying any property in Detroit?
Investor · Detroit, MI · Member since 2014 · 755 posts · 462 votes
10y
Detroit has houses better than most every city in the nation!
Detroit also has houses worse than most every city in the nation!
Both within the city limits.
@George P. is in one of the suburbs and says prices don't make sense. I invest in the city and the close in suburbs and wonder why anybody invests anywhere else as I see appreciation higher than anywhere AND cash flow better than anywhere else!
Property Manager · Livonia, MI · Member since 2011 · 4k+ posts · 1k+ votes
10y
there are TONS of threads about detroit. some areas are expensive, some are...... run fast and dont look back!. i drove down a street a few weeks back where front doors were either gone or have been W I D E open for years since they were falling apart. most plywood that was boarding up windows was molded from the elements.
Charlotte, NC · Member since 2014 · 241 posts · 21 votes
10y
@George P. thanks for that comment I will definitely look into those thread @Richard Dunlop is this something you faced in regard to the wide variety of home available that George discussed?
Investor · Detroit, MI · Member since 2014 · 755 posts · 462 votes
10y
Detroit has houses better than most every city in the nation!
Detroit also has houses worse than most every city in the nation!
Both within the city limits.
@George P. is in one of the suburbs and says prices don't make sense. I invest in the city and the close in suburbs and wonder why anybody invests anywhere else as I see appreciation higher than anywhere AND cash flow better than anywhere else!
Charlotte, NC · Member since 2014 · 241 posts · 21 votes
10y
@Richard Dunlop thanks for that feedback, I'm in Charlotte, North Carolina an was thinking of doing some investment in that area. I will definitely keep you in mind if I move forward in investing in Detroit
Manassas, VA · Member since 2015 · 65 posts · 34 votes
10y
@Chad K. what are you looking for in Charlotte? We have a wide variety of properties ranging from turn key already rented opportunities, to potential flips. PM if you'd like some more info.
Charlotte, NC · Member since 2014 · 241 posts · 21 votes
10y
@Jeff Rightmyer thanks for reaching out Jeff about me asking about Detroit properties, currently I wholesale in the area an was doing some research an saw the owner of the calvs Dan Gilbert invest a billion in downtown Detroit an had me thinking about investing. I saw a few homes for under 5k an even a fsbo for 3000 that was offering seller financing with only 500 down an the home was "somewhat" move in ready. So right now just looking for something cheap possible a extremely cheap property were I can just pay the yearly property taxes an wholesale to a fix an flipper within the next few years
San Marcos, CA · Member since 2015 · 18 posts · 1 vote
10y
I recently relocated to Detroit Metro from San Diego and am also looking to start investing in the nearby pockets of town that I can acquire cheaply and/or rent for good cash flow or flip for a decent gain. I currently still rent out my old primary residence in CA but may look to sell it and put those gains to work for a better return here in MI. Excited to hear what you've got in store - pls keep us updated with what you find as it seems we're both exploring this foreign territory together. Cheers.
Be sure to post about your experiences too! I'd be interested to see what you do both investing in places in Detroit and if you feel it's worthwhile to unlock your SD equity and put it to work in Detroit.