Anyone invest in Inkster mi? Let's connect!

[Joe Doman]

Hello, I am looking to network with people investing in Inkster Michigan. It is close to Westland, Garden city, Detroit etc.

I came accross a potfolio of 15 sfr and the owner is willing to sell at discount. I just have no experience with lower end homes; values in the 20-40k.  Would love to hear from anyone with experience investing in Inkster.

Thanks! -Joe

[James Wise]

Originally posted by @Joe Doman:

Hello, I am looking to network with people investing in Inkster Michigan. It is close to Westland, Garden city, Detroit etc.

I came accross a potfolio of 15 sfr and the owner is willing to sell at discount. I just have no experience with lower end homes; values in the 20-40k.  Would love to hear from anyone with experience investing in Inkster.

Thanks! -Joe

 I've never heard of Inkster but have just about as much experience in low end homes & the tenants that reside in them. You can make some serious coin investing in that stuff but know that you need to be ready for battle. The tenants themselves are usually ok but you need to factor in a decent percentage of them giving you hell.

Ya see these folks are transient in nature and are often one or two missed paychecks or unfortunate life events away from being broke. Once they are broke that means they don't pay rent. Renting to tenants with a large cushion of savings is not a likely scenario when you are buying homes in this price range. Especially if you are buying $20,000 homes. It doesn't matter where or what market you are buying in. If you are buying a $20,000 rental property in America in 2018 it is going to be a house that houses the poorest of the poor. No if's and's or but's about that. Now if you stick closer to that $40,000 mark & go even higher up to say $65,000-$80,000 you can get yourself a much more stable tenant base.

For some insight into the worst of the worst when it comes to low income areas check out some of the following threads here on Bigger Pockets.

TENANTS FROM HELL #5 Sinks from hell. PICS INCLUDED

TENANTS FROM HELL #3 Move outs from hell. PICS INCLUDED

TENANTS FROM HELL #2 Tubs & Showers from hell. PICS INCLUDED!