Is Detroit a good market to begin in for Newbie Investor?
Hi BP Fam! I am a newbie investor and I've been doing a lot of research, reading and podcast listening over the past couple of weeks and came across BiggerPockets along the way. Currently, my goal is to start with passive investing in SFRs to buy, rehab and hold for cash flow. Based on my research, I am really drawn to the Detroit area. There seems to be opportunity for good cash flow in some of the up and coming neighborhoods. For those of you seasoned Detroit investors, do you think it advisable to start as a new long distant investor in Detroit given the challenges of finding good neighborhoods? I know having a good team on the ground will be key, so any tips or referrals in that regard (starting with a good real estate agent, contractor and property manager) would be great! Right now the areas I'm considering are Fitzgerald and Grandmont/Rosedale. Any and all thoughts and advice would be greatly appreciated!