Buyina a rental property in Melvindale Michigan

Buyina a rental property in Melvindale Michigan

Investor · Dulles, VA · Member since 2013 · 23 posts · 3 votes

I am interested in buying and renting out a property in Melvindale Michigan.  My intention would be to rent it out and never live there.  I don't want to flip the house, so I would be buying a home turnkey.

Is this a good area for renters?  Are there areas that I should not consider? 

Thank you,

Catherine

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  • Greg ScottPro Member
    Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
    6y
    Melvindale is fine.   It is a pretty small suburb surrounded by many other suburbs that are also good for rent properties, so I'm curious what made you interested in that community?

    You probably don't want to be too close to the railroad tracks.   That area is very industrial.  You never know what chemicals might have spilled along the way.

  • Investor · Dulles, VA · Member since 2013 · 23 posts · 3 votes
    6y

     I know someone investing in that neighborhood. She is investing for the long haul.  

    Very good information about the railroad tracks.  I will be looking at the map when I search out areas.

  • Ramon HuertaPro Member
    Real Estate Agent · Kalamazoo, MI · Member since 2016 · 223 posts · 26 votes
    6y

    @Cathy G. I would start talking to who ever is going to manage the property for you. I am sure they will have some great insight for you and possible suggestions.

  • Investor · Dulles, VA · Member since 2013 · 23 posts · 3 votes
    6y

    In my initial post, I used the word "turnkey".  Did I use that work incorrectly?  I want to buy a home already rehabbed and ready for tenants.  

  • Alan StalterPro Member
    Real Estate Agent · South Lyon, MI · Member since 2010 · 50 posts · 10 votes
    6y

    You are exactly right. The term is turnkey

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