Need Input From A Property Manager in Detroit

Member since 2021 · 35 posts · 16 votes

Detroit-area property managers,

I'm looking at a SFR fix-and-flip property in Detroit that is on a moderately busy double-yellow st and across from some multi-family units. I'm wondering how these aspects will affect the rentability and resale value of the property. Looking for guidance from property managers who operate in the Detroit area.

Neil

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Jonathan GreeneBusiness Member

Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes

@Drew Sygit can probably help.

[email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro

Zen and the Art of Real Estate Investing59 Reviews

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Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
2y
@Drew Sygit can probably help.
[email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
Zen and the Art of Real Estate Investing59 Reviews
Website View Page
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Neil Smith
OP
Member since 2021 · 35 posts · 16 votes
2y
Thanks @Jonathan Greene.

@Drew Sygit, direct message sent to you.
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
1y
@Neil Smith Detroit is an interesting city and doesn't follow many of the rules of other urban locations across the US.
Tenants are VERY Neighborhood focused due to their support networks. Thus location is more important to them than amenities, etc.
So, these issues will have a very small impact on your plans - if any at all.
Since your target property is a single-unit, you may want to do some research on doing a retail flip versus a rental flip.
[email protected]248-209-6824
Logical Property Management4.9469 Reviews
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
1y
@Jonathan Greene thanks for the shoutout!
[email protected]248-209-6824
Logical Property Management4.9469 Reviews
Website View Page
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Neil Smith
OP
Member since 2021 · 35 posts · 16 votes
1y
Really helpful info, @Drew Sygit. Thank you.
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