Out of State Investing Advice in DETROIT

[Shayne Hastings]

Hello Everyone, 

I am a realtor here in San Francisco, CA. While I enjoy being a realtor, I have always wanted to get into investing for the long term. I have a business partner who has a large interest in the Detroit area. He lives overseas and I am on the west coast so it would be difficult to be there to manage the properties but when looking at properties in certain areas of Detroit, the numbers are amazing. 

Any advice, experiences or help from anyone who has invested in the Detroit area while living out of state would be greatly appreciated! 

Cheers!

[Jeff Lipple]

Hi @Shayne Hastings I'm a full time wholesaler in south east Michigan and come across many deals in the suburbs surrounding Detroit (not that actual city of Detroit itself).  Although there are good opportunities in small pockets of the city, I don't recommend out of area investors putting their money their, you could end up in a situation like Saul described.  If I were you I'd look into areas that interest you in the suburbs of Detroit and then ask local landlords (not people trying to sell you a property) of their opinion of the areas.  Then find deals that work for your numbers in the good areas and use a good property manager or purchase turn key properties like @Robert Syfert offers.