Michigan for flipping & investing in cheap real estate

16 Replies

Hello 

Who here recommends a town or city in Michigan that is up and coming, with cheap buy in and good potential for flips and appreciation?  We looked at detroit, but since this would our first step in the state, don't wanna go there quite yet due to the high crime 

Detroit has one of the highest crime rate in US (less safe than 98% of US cities ) .

Myself live in Canada, but have visit Michigan many times, for me I am looking at Warren as potential city, but still need input from others as I am also trying to decide which city is the best for investment . 

Hi @Account Closed , when you say you looked in Detroit, did you visit? There is definitely regions of high crime, but also areas without. Similarly there are areas where you can get a house for $100 and others where a condo costs $150k. What I’m trying to say is, you can find all types there and in surrounding sub markets, but it depends on what exactly you’re looking for. So what does “good potential” mean to you and what level of risk can you tolerate?

There are tons of markets in southeast Michigan (if that's the area you're interested in) that are not Detroit. Wayne, Westland, Livonia, and Redford are all blue-collar cities that are accessible to Detroit. Inkster is iffy. Neighborhood is key. 

Detroit has poor and rich areas. north of 94 Highway is not safe and is not a good area to invest in. On the other hand, if you go though on Woodward closer to WSU, you will see prices going up and units that are as high as any rich city. 

There are areas such as Wixom and Redford that are growing now like crazy, but you have to know that there is a "strong" competition and anything that comes out in the market, the next day it has multiple offers from local investors and you will be lucky if you put your hands on one. 

Good luck

Originally posted by @Bruce Scannell :

Hi @Anthony Gjolaj, when you say you looked in Detroit, did you visit? There is definitely regions of high crime, but also areas without. Similarly there are areas where you can get a house for $100 and others where a condo costs $150k. What I’m trying to say is, you can find all types there and in surrounding sub markets, but it depends on what exactly you’re looking for. So what does “good potential” mean to you and what level of risk can you tolerate?

 I am looking for an area of town where we can expect appreciation, schools don't have to be good since it will be a unmarried couple moving there, and just overall a good investment a good first step in the state

Originally posted by @Courtney M. :

There are tons of markets in southeast Michigan (if that's the area you're interested in) that are not Detroit. Wayne, Westland, Livonia, and Redford are all blue-collar cities that are accessible to Detroit. Inkster is iffy. Neighborhood is key. 

 Yes, do you know a good agent?

Originally posted by @Tamer Y. :

Detroit has poor and rich areas. north of 94 Highway is not safe and is not a good area to invest in. On the other hand, if you go though on Woodward closer to WSU, you will see prices going up and units that are as high as any rich city. 

There are areas such as Wixom and Redford that are growing now like crazy, but you have to know that there is a "strong" competition and anything that comes out in the market, the next day it has multiple offers from local investors and you will be lucky if you put your hands on one. 

Good luck

 I just need a good first investment in the state that is not expensive 

Anthony Gjolaj I second the recommendations of Westland and Livonia, I’d add Garden City, parts of Romulus, and perhaps Taylor as prices are still low but appreciating rapidly - safe, working class, solid areas that have ok schools. Have purchased 4 rentals in these areas and have been very happy with the returns and appreciation. I’ve also found a great team of people who help us self manage long distance...suburban Detroit is a great place to start investing.

Happy to share my Realtor’s info, PM if interested.

The Lansing, MI area is a pretty steady rental market. Deals are harder to find these days, but rents are stable. If you wanted to flip, I might suggest some of the surrounding areas to look for those opportunities, but again, finding deals takes some work.

I second what @Emily B. said about Lansing being a good stable market. Deals are getting a bit skinny in Lansing, but not impossible to find if you are patient. You may have missed the boat by about 2 years for the best deals in Lansing. As Emily said, the surrounding areas are great for flipping/appreciation. I would look at areas like Okemos, Mason, Dewitt, and Grand Ledge. Let me know if I can be of assistance in any way and welcome to Michigan investing!

I think Bay City has some great flipping potentials, along with some great buy-and-hold opportunities, as there does not seem a large inventory of rentals, and the couple of rentals that I have there get taken so quickly!

@Anthony Gjolaj As an realtor/agent who has lived and owned multiple properties in the city of Detroit. I Also helped many out of town investors find deals here. I would suggest looking in certain zip codes within the city. There are great values here. Don’t get side tracked by the negative comments. If you need further assistance reach out