I am looking to invest in Detroit. Wanting to know the best areas or a great Realtor over there to help?
I am also looking for the same thing! I haven’t had much luck yet.
I have 40 in the suburbs.. Westland, Livonia, garden City.
And also manage a few for out of state investors.
Lastly, I'm a builder, general contractor with my own crew and update lots of homes for investors and homeowners..
Be careful guys.
The real rocket ship ride was for those who invested in downtown Detroit 10 years ago. Those people made massive returns on speculative investments.
There are still great opportunities. I'm a huge fan of SE Michigan, but please get educated on the different communities, their laws, and the potential for growth. You have to buy the right property in the right places at the right price, just as you would in Boise or Tacoma.
Yea Greg I have been trying to research the different areas. Houses going for 30k that rent for 8-900 is a good return though. Just want professional in the area though that knows what areas rent well.
@Cody Harris I have four units in suburban Detroit that my husband and I self-manage from out of state. It is harder to find deals these days, but they are still out there with some digging. We’ve had a couple of bumps but have been very pleased with the suburban Detroit market overall - have seen both cash flow and appreciation (60% in ~3 years). Happy to recommend our realtor Shane - he is great with out of state investors and can guide you to the areas/returns you’re looking for. PM me if you’d like his contact info.
I'm a Local realtor with the #6 brokerage in the city of Detroit. Whatever it is that you need i can assist you from 10k purchases to 1 million. @CODYHARRIS @VICTORIACRUMP these is money to still be made
@Cody Harris I can tell you are a wise investor ready.
1. You want to invest in TheD!
2. You are seeking professionals from the area. My type of investor!
Happy to give you an overview of current market opportunities given your goals.
Shoot me a line or call.
I have invested in Detroit since 2002, (send me email I'll send you my track record of deals) a few single family's and 2 family's and apartments. Licensed broker and residential builder, always have deals going and coming. Get plugged in.
@Cody Harris Happy to help. I know the City of Detroit well. Let me know what questions you have and I can advise as needed.
@Joseph Abbott thank you!! Are you an investor or agent yourself? What has been your experience in Detroit?
You're welcome @Victoria Crump . Honestly, I'm neither at the moment. However, I'm working towards my Real Estate license for the State of Michigan. But, the end goal is to become an Investor with Income properties in different states. I have worked in Property Management, Wholesaling and Rehabbing properties in Metro Detroit. What is your end goal as for Real Estate?
I would cut my teeth in the Detroit Suburbs, get a feel for the area. Then do a 3rd or 4th property in the City. You need to have contractors, and network of people you can trust. If you go right into Detroit and try to do this the wolves will eat you alive. I have a property owner myself and some buddies are trying to save right now. He has had contractors and PM's take him for $30K in 4 years, his places are still in shambles. We are stepping in to help because we all improved our properties and have tenants, now his properties are becoming targets for crime.
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