Rental Properties, Detroit

[Jayde L Kennedy]

Hi we are new investors my husband and I, we are doing research on Detroit MI right now and we are wondering if anyone has any good insights on investing in Detroit. 

The houses are in our budget with little to no rehab. Is Detroit worth investing in? 

[Greg Scott]

Are you talking City of Detroit or Metro Detroit?

The City of Detroit can be challenging.  You really need to have an expert that knows block by block what areas are good to be in and which are dificult.  The worst areas, of course, are the cheapest. Before buying I'd also find a property manager with a good track record and talk to them as well.

Metro Detroit has many communities at different price points and different economic activities.  Some are better than others for rentals.  In some, one side of the community is better than the other, but it typically doesn't transition as quickly as it can in the City proper.

[Drew Sygit]

@Jayde L Kennedy 

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorse

(BP search feature can be problematic, so we’ve also added links @ our website under View Cities & Neighborhoods We Service)

Doubt you'll find this much info for any other market in the country. So, why would you invest remotely anywhere else?

Please send us any feedback via email, as we do not use the DM feature here.
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[Randy Rodenhouse]

I have a few properties in Detroit and the city is pretty challenging but some of the outskirts are good.  I have properties still in Redford area and sold with owner financing and making good money.  Of course, I don't know all the areas but pick areas that are low crime and make sure you do the math so that you cash flow and finally know your exit.  

[Bob Stevens]

Quote from @Jayde L Kennedy:

Hi we are new investors my husband and I, we are doing research on Detroit MI right now and we are wondering if anyone has any good insights on investing in Detroit. 

The houses are in our budget with little to no rehab. Is Detroit worth investing in? 

 Detroit is a very tough area . PLEASE connect with someone that is doing deals there with a lot of experience

Good luck 

[Travis Biziorek]

Hey Jayde, I am THE expert here on Detroit. I will die on that hill :-)

I lived in Metro Detroit from 2017-2022 before recently relocating back to California. 

From 2019-2021 I purchased and renovated over 12-doors in the CITY of Detroit (not the suburbs -- they are very different beasts).

Investing in Detroit has literally been life-changing for me and my family. I'm still active there and I'm also now helping other investors locate strong off-market deals, connect with my contractors, and then my preferred property manager. I'm happy to help.

Beyond that, I'm now regularly blogging about Detroit (check profile) and truly believe there a massive dislocation with pricing because people still have a negative perception of the city and don't understand all the amazing things happening there on the ground.

Happy to connect and chat!

[Ryan Warren]

Little to no rehab in Detroit is more than likey goning to come with a tenant or title issues. A lot of vacant properties will require roof and windows and good areas vary from block to block.

[Jim Wellington]

Jayde-

id highly recommend connecting with @Drew Sygit. He ones of the leading property management companies in Metro Detroit. He’s got a ton of experience in Detroit. Investing in Detroit is different than the suburbs so you need someone who knows that area. Having the right company to manage it is critical. 

[Linda Labbe]

Detroit is  a very interesting place with great numbers  and red flags. It took us 6 years to find a team on the ground that we could trust  but now we could not be happier investing in the city,,, or to be more accurate the parts of the city that we have chosen to invest in.. numbers are outstanding.. more then willing ot share what we have learnt there with anyone who wants to chat

[Josie Brown]

Hi Jayde! Detroit can be a great place to invest in rental properties. I'd be happy to chat with you further about this!

[Gary Carver]

@Jayde L Kennedy. It’s very Important to get people who are actively investing in the city and have knowledge of the areas. Detroit is a Great place to invest with the proper plans

[Erick Howard]

Hello Jayde,

There are many amazing things going on in Detroit and the surrounding areas. I can help with some insight on investing in Detroit as I have owned and still own apartment buildings, commercial and residential real estate in the City. Please take a look at the State of the City in which the Mayor, Mike Duggin goes through in detail the billions of dollars of investments going on right now in the city.  https://detroitmi.gov/governme...

[Frankie Betancourt]

Yes great place to invest ONLY if you are very good knowing the neighborhood or block IF you do not I would not advise it I mainly buy foreclosures 

[Nader Shariff]

Detroit is a 100 percent worth investing in, so long as you understand all the pros and risks associated with investing in the city, as well as how the city itself operates. It is a bit tricky as things change rapidly block by block. It is also going to depend on where in the city you invest, and who you have on the ground helping you. 

Happy to talk to you about my personal experiences in the city of Detroit, or just talk shop about anything real estate !

[Bob Stevens]

Quote from @Jayde L Kennedy:

Hi we are new investors my husband and I, we are doing research on Detroit MI right now and we are wondering if anyone has any good insights on investing in Detroit. 

The houses are in our budget with little to no rehab. Is Detroit worth investing in? 

 you better have a team in place, DO NOT even think about doing it on your own. Please connect with those that have been doing deals there, and have a team 

[Xavier Randall]

So, we've been in Detroit for a year now and learned a lot. Detroit proper and the surrounding cities all have municipality involvement. Meaning, you want to make sure you ask the seller & the agent representing you of there City Rental/Occupancy cert is current. If not, you will need to get that done. We've learned that if you stay above 9 mile, then you're more likely to find solid rental pockets. We've run into property mgrs who will not take on anything with "Detroit" in the address, even if it's next to a solid neighborhood because of city involvement and red tape. Price points vs what you can get for rents are attractive with the right due diligence. 

[Henry T.]

Quote from @Drew Sygit:

@Jayde L Kennedy 

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorse

(BP search feature can be problematic, so we’ve also added links @ our website under View Cities & Neighborhoods We Service)

Doubt you'll find this much info for any other market in the country. So, why would you invest remotely anywhere else?

Please send us any feedback via email, as we do not use the DM feature here.
Also, if you like our response, please don’t be shy about giving us a vote😊

 I enjoyed checking that Deep Dive to Ecorse. I don't know about others, but I see the opportunity. I was in Allen Park 2 years ago and also checked the perimeter of Ecorse.  Grrrreat!  I wish I was 25 again. I see solid fixers, with easy return. More Deep dives please.