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Updated about 4 years ago on . Most recent reply

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12
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Emma Lincoln
  • Investor
  • Vancouver, WA
1
Votes |
12
Posts

Looking for thoughts on Lansing, Toledo and North Detroit

Emma Lincoln
  • Investor
  • Vancouver, WA
Posted

I'm planning on moving 70% of my portfolio from OR / WA to the midwest. To start with, I'm looking to pick up 5-10 SFHs in a cash flow market. Trying to decide between Lansing, Toledo, and North Detroit (Warren area). 

Would love to hear from people who invest in one of these markets regularly and/or recently about why they would choose that market over the other two I listed.

Would also love to connect with any investors who would be willing to share actual numbers from a recent deal. I know there were killer deals in these places a couple of years ago, but want to make sure I'm understanding what recent deals are looking like. 

Thanks all! 

Most Popular Reply

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611
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666
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Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
666
Votes |
611
Posts
Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
Replied

@Emma Lincoln

My most recent purchase in Warren MI, purchase price or $81k - needs some love then will rent for $1300. Cash flow and ROI monster. The $75-$110k price point with rents of $1000-$1400 is very prevalent here in metro detroit.

Previously the deals were buy for $50k and rent for $850. Great deal. Now, the deals are buy for $90k and rent for $1250. Still a great deal because rents are higher now too.

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