Detroit, MI · Member since 2018 · 3 posts · 1 vote
Hi! My name is Ken, i'm from Detroit, Mi and currently a new member of the BiggerPockekets real estate investing family. I have always had a desire to invest in real estate, so i'm looking forward to learning and meeting lots of seasoned investors and newcomers. My short term goal is to earn $4,250 a month in passive income within 3 years. I plan on accomplishing this goal by investing in single family and small multifamily homes using the buy and hold and hybrid strategies. I am so excited; wish me luck!
Hi! My name is Ken, i'm from Detroit, Mi and currently a new member of the BiggerPockekets real estate investing family. I have always had a desire to invest in real estate, so i'm looking forward to learning and meeting lots of seasoned investors and newcomers. My short term goal is to earn $4,250 a month in passive income within 3 years. I plan on accomplishing this goal by investing in single family and small multifamily homes using the buy and hold and hybrid strategies. I am so excited; wish me luck!
Hi Ken, pleased to meet you. What is your strategy?
Detroit fascinates me. "At its peak population of 1,849,568, in the 1950 Census, the city was the 5th-largest in the United States," Now, of course things are different. My understanding is that whole blocks are vacant.
Yes Mike, that's correct. You have areas that are devastated from years of neglect and urban decay. On the other hand there are plenty of opportunities in great neighborhoods in the city an surrounding suburbs. Detroit is a large city with some major problems but things are definitely on the tick.
@Kenneth Tate Welcome! I've talked to multiple other Detroit investors and people that live in Detroit are the only people who aren't down on investing there. Obviously there are places to avoid, but Detroit is not nearly as bad as everyone outside of Michigan would have you believe. Good for you all who live there! Seems like there are still opportunities and everyone else is too scared to invest there yet. I wonder how much longer that will last.