"Shack Town" in Westland Mi. Any experience?

15 Replies

I own 3 condos on the edge of a neighborhood nicknamed "shack town" it consists of hundreds of duplexes. They go for around 20-40k and rent out for about $600-700 per side. Great numbers I know. Just looking for someone that has some experience in this area. It looks rough/ghetto to the eye. But once you look up the crime stats it is worlds better then other high yielding areas like Detroit.

what you said pretty much sums it up. shack town is a place where you dont want to be late afternoons. lots of people without shirts sitting on their porches at night. i have houses north of ford rd

I think @George P.  is right.  The numbers look great on paper but there is much more to the story that the numbers don't show.  I've never actually looked at any of those multis there but I've heard from some people who have that even the construction quality of the actual buildings are terrible.  

IMO not worth it but everyone has their own goals and comfort level.

This sounds like an area where you could get some burned out property owners selling super cheap. Maybe check sending out yellow letters for crazy deals.

thanks,

Matt

Originally posted by @Matt R. :

This sounds like an area where you could get some burned out property owners selling super cheap. Maybe check sending out yellow letters for crazy deals.

thanks,

Matt

You can get crazy deals in this area directly on the MLS! Haha

Nick Keese have you picked up any rentals yet?

What areas do you concentrate on?

Right on Nick, save the postage even better.

Thanks,

Matt

Originally posted by @Mike Wallace :

Nick Keese have you picked up any rentals yet?

What areas do you concentrate on?

Yeah, in southern Redford.  It's a great rental market and the neighborhoods closer to Livonia especially are nice.

Nick congrats on your purchases.

I have been looking around south redford. So south of 96 west of telegraph?

single family or multis? What type of prices are you getting them for? what are rents like?

Thanks in advance.

I have one in South Redford. 3 Bed Brick Ranch. No Garage. Getting $900. Shes been paying good for about a year now.

Hey @Mike Wallace

My Partner and I now have around 40 properties in Redford. Mostly South Redford (South of 5 mile rd.) Rents are anywhere from $1000-$1300 ($1300 for the bigger homes). Average is probably $1075.

We bought half of them in 2011/2012 when you could be all in (purchase + rehab) for 40k-45k. Currently 60-80k all in is more realisitic.

Hope that helps,

Mike Dundon

Those look like some solid numbers. Do you guys try and stay west of telegraph in Redford?

Yeah Generally. We have 5 properties that are east of Telegraph. 2 are East of Telegraph/ Between West Chicago and Joy. I still like that neighborhood a lot. Other than that area I probably wouldn't buy any more that are East of Telegraph. The other 3 are in that little section East of Telegraph/ North of Plymouth. That area is OK. We've always stayed away from East of Telegraph/ Between Plymouth and West Chicago.

Good info Michael.

The past 2 years I have buying in Westland/Wayne and have been hitting great returns there. I am going to start looking at Redford. I always try and hit at least 2% gross rent monthly of the purchase price. Its becoming harder and harder with this rising market around here.

I'm glad @Michael Dundon  chimed in because he and his partner are Redford experts!

@Thomas Blaine  I didn't know you had one in Redford too.  Great to know!

Originally posted by @Nick Keesee:
I'm glad @Michael Dundon chimed in because he and his partner are Redford experts!

@Thomas Blaine I didn't know you had one in Redford too. Great to know!

Yes Sir. First house I ever bought when I was 19! Bought it on Land Contract too.