Looking for Rochester MI. Investors

19 Replies

New to the area and coming from Los Angeles CA, where property values are laughable to millennials like myself I'm interested in REI possibilities near Rochester Hills / Detroit MI.

Please feel free to share below. My fiancé moved for school so granted I make frequent visits but totally unfamiliar with the surrounding areas.

Looking for potential partner (preferably local) in what I would hope to be a successful career in real estate investing.

@Sevag Guedikian: Rochester Hills is mostly a flip market. Returns on buy & hold is relatively low for Detroit area market, but higher than California.

Suggest you share more about what you prefer to do as to, "REI possibilities" :)

Originally posted by @Sevag Guedikian :

New to the area and coming from Los Angeles CA, where property values are laughable to millennials like myself I'm interested in REI possibilities near Rochester Hills / Detroit MI.

Please feel free to share below. My fiancé moved for school so granted I make frequent visits but totally unfamiliar with the surrounding areas.

Looking for potential partner (preferably local) in what I would hope to be a successful career in real estate investing.

Hey Sevag, I'll be hanging out in Oak Park, CA for about a month starting Feb. 16th. I know that's not super close to you, but it's closer than Detroit (where I currently live).

I'm pretty active in the Detroit market. Happy to grab coffee when I'm out there.

 

@Sevag Guedikian: Haven't met @Travis Biziorek yet, but I follow his posts and he's very knowledgeable. So, if you can meet with him he can fast forward your Metro Detroit education:)

Originally posted by @Drew Sygit :

@Sevag Guedikian: Rochester Hills is mostly a flip market. Returns on buy & hold is relatively low for Detroit area market, but higher than California.

Suggest you share more about what you prefer to do as to, "REI possibilities" :)

I'm really into flip investing being the ideal strategy. Multi family property investing or with proper funding, lending made available, something bigger. Again, I'm new to REI, very new to the area (been 6 or so times now?) and even the idea of being able to afford anything at all due to LA property values being so high. I'm just hungry to get into the game.

Hence why I was so vague. Hope that’s a satisfactory response :p . I could elaborate for hours but it could just end up being gibberish not being applied. 

 

@Dylan Tanaka I’ve been lurking in the BP forums for years! Have gone to some meet ups as well. This opportunity just presented itself so decided to see what I could make out of it if I added some fuel to the fire. 

What’s your take on the current market heath in Detroit/Rochester Hills? I know it wasn’t so hot a little while ago but heard it’s picked up. From the looks of how many of you are active here in the area certainly looks like it’s going well! 

Hi Sevag,

My opinion, the best best for rentals in terms of ROI and maint is the northern bordering suburbs of Detroit. Economy is strong, prices decent, returns good. Warren, Hazel Park, Southfield (taxes a little high) and Redford and some of the more favorable buy and hold Markets. Always happy to chat.

Originally posted by @Sevag Guedikian :

@Keyonte Summers glad to hear it. What kind of investing do you do? 

Buy and holds, BRRRR deals, flips if the numbers makes. I have sfh/mfh home in my portfolio. My past few rehabs has been extensive but I've been able to pull out all the cash so that helps. Are you just getting started? Or looking to get started in the Michigan market.

 

@Sevag Guedikian I am an investor/realtor and live in Rochester.  I agree with most of what has been shared so far in this post.  Rochester is not a cheap area so rentals that make money are hard to come by but flips work.  The cities around Detroit are best for rentals but the city of Detroit has some of the best potential right now if you know what you are doing or know someone who does.  Feel free to reach out.  I work with many out of state/country investors and actively invest in flips and buy/holds myself.

Originally posted by @Rassan Sampson :

@Sevag Guedikian @Travis Biziorek if you guys meet up in the LA area I'd be interested in tagging along. I work in LA and should be able to get to whatever area you decide on.

 If you can get over to Oak Park, that will be easiest for me. I have at least one BP member meeting me there, but we haven't hammered out an exact date/time yet.