Investing in SFHs in Redford, MI
For those who invest in the Redford area, what are your thoughts? I've been looking for my first rental property in Redford/Taylor areas and Redford seems like a good area as far as the numbers - cheaper single family houses (<150K) and higher rents. How is Redford outside the spreadsheet? Are there areas (west/ east of telegraph or north/south of 96) to avoid? Or areas that thrive? Good/Bad neighborhoods?
Let me know your thoughts!
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Like most cities locally Redford is a block by block city. Meaning you can't generalize by saying E of X of N of W as that is to large of an area. Really need to drive the individual block/surrounding blocks.
That said, overall Redford is fantastic. Personally have owned a large number of rentals/flips in the city and we have lots of clients that have bought in Redford over the years for buy / hold, flips, BRRRR and so on. Also manage a decent number of homes there.
Redford is also a "fair" city meaning the inspections for the rental certs are for the most part what you would expect and rarely do they have silly things on them. Also, they do a good job of not adding to the list each time they come out.
They don't have a way to make the tenant responsible for the water so if you are holding a tenant occupied home you need to make sure to keep that in check.
This is a general conversation of course but Redford is a great market for rental properties.