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Michigan Real Estate Q&A Discussion Forum
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Updated over 7 years ago on . Most recent reply

Account Closed's profile image
Account Closed's profile image
Account Closed
  • from Kyparissia, Messinia
  • Member since Aug 30, 2017
Account Closed's profile image
Account Closed's profile image
Account Closed
  • from Kyparissia, Messinia
  • Member since Aug 30, 2017
Account Closed
  • Kyparissia, Messinia
43
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Michigan Real Estate Q&A Discussion Forum

Investing in Eastpointe, MI

Account Closed
  • Kyparissia, Messinia
Posted

Hello,

It has been my dream/goal to someday invest in East Detroit area.  Grosse Pointe area, East Pointe, etc.   I know the area has seen better days, but would it be wise to buy a house say at about 60K, that would be paid in cash, with about 2,100 in taxes?  When I do the numbers, it gets a good cash flow at about $800 rent. (Might need a bit of work)

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Greg Scott's profile image
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Greg Scott
  • Rental Property Investor
  • from SE Michigan
  • Member since Oct 27, 2014

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Greg Scott's profile image
Greg Scott's profile image
Greg Scott
  • Rental Property Investor
  • from SE Michigan
  • Member since Oct 27, 2014
Greg Scott
  • Rental Property Investor
  • SE Michigan
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Greg Scott
  • Rental Property Investor
  • SE Michigan
Replied

Estelle:

There is a WORLD of difference between East Pointe and Grosse Pointe

I would happily live in one and you could not pay me to own a rent property in the other.

Be careful.

  • Greg Scott
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