I am looking for guidance from anyone that knows or invests around Detroit. A friend of mine (who is not a real estate investor) is looking at buying an apartment complex in Detroit. He is an entrepreneur, but this is a big jump for him. The address of the property is 14251 Longview St. Detroit, MI. It is an 18 unit building for I believe $180,000. I haven't even really looked at numbers yet. I am just curious about the area. From the quick searches I did it looks like this is a BAD area of Detroit. It sounds like the crime rates and police response times are horrible. I told him I wouldn't even think about it, but the person selling it to him says he has no trouble renting it out. I spend a lot of time on BP, so I hear about all of the risks and dislikes with Detroit. I'm just curious what people with knowledge of that specific area and low class apartments have to say.
Have your friend call me. Lets see if i can help him out....not too scarrrrry
He said it sounds like you know your stuff. Thanks for the help!
Listen being poor does not necessarily mean being bad. However be aware that there is evil and by its nature evil will destroy whatever you are trying to build no matter how good your intentions. Do your best to stay away from obvious bad areas . Well I mean super bad because in general most of Detroit is bad unless you are upper class and investing in the best of the best. There are still allot of hard working folks in Detroit with a sense of pride of ownership and pride in their life style if they are renters you just have to take the time to get familiar with the areas that are still civilized.