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Darren Wendroff
  • Investor
  • Orlando, FL
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Purchasing Rental in Detroit, advice?

Darren Wendroff
  • Investor
  • Orlando, FL
Posted Jul 19 2016, 06:12

Hi all, I'm looking to purchase a rental in Detroit. It's in the 48238 zipcode, close to the University District and Marygrove College. It's a 3/1, 1400 sq feet and renovated. It's about $35k, all brick, no central A/C. It has a renter, but don't know much about the renter. The renter is paying $750/mo. 

Couple questions:
- Does anyone know that zip code, is it a good zip code to invest in in Detroit? 
- The seller asked that I not speak with the renter prior to purchase, this seems to be a red flag to me, thoughts? She said that it might spook the renter? 

Any thoughts in general on Detroit? I feel like a classic American city like Detroit revitalizes, but it could just be a media story. Anybody "on the ground" investors with thoughts? Thanks in advance. 

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