El Paso , TX · Member since 2016 · 94 posts · 25 votes
Hello All,
I’ve been thinking about investing in Detroit but I don’t know where to start my research. I would be an out of state investor. Does anyone have any advice on how to get accurate data about the numbers and neighborhood without actually being there? Thank you all for your time have a great day.
Rental Property Investor · Brooklyn, NY · Member since 2018 · 36 posts · 17 votes
7y
Please see the last BP podcast on youtube with Ashley Hamilton on her Detroit Real Estate Journey. Also look up Denson Construction Services Detroit Real Estate Tours. Good Places to Start.
Rental Property Investor · Brooklyn, NY · Member since 2018 · 36 posts · 17 votes
7y
Please see the last BP podcast on youtube with Ashley Hamilton on her Detroit Real Estate Journey. Also look up Denson Construction Services Detroit Real Estate Tours. Good Places to Start.
Ypsilanti, MI · Member since 2018 · 189 posts · 127 votes
7y
Check out the Metro Detroit Real Estate Investors Facebook group. It’s not 100% Detroit but most people there the majority of their business there and are open to questions. Do you have a good idea of your finances? How much you can offer? What you bring to the table?
El Paso , TX · Member since 2016 · 94 posts · 25 votes
7y
@Matt Hurley Thanks for the info. I was going to use my VA loan to buy another property or an FAH loan. My credit is good (mid 700s). I wanted to get someing around 30k
El Paso , TX · Member since 2016 · 94 posts · 25 votes
7y
@Jamiel Strickland Thanks for the info. I'm looking for all the info needed to make a sound judgement on purchasing an investment property in that area. Reasonable rents, crime stats, tax info, rehab costs, best areas to invest in etc
Specialist · Tampa, FL · Member since 2019 · 8 posts · 8 votes
7y
Hi, I am in the same boat as @Brittany King. I am still in the baby stages of REI (no deals yet), but am interested in starting in Detroit. I do not have much capital yet ($15K-$20K). After watching Ashley Hamilton's episode, I was inspired! I have also checked out Asia Denson's company (Denson Construction) and would like to take a trip to Detroit to explore the city and surrounding areas more. From the research that I have done within the last week or so, I am interested in the Moross-Morang area and also East English Village area, but would love to speak to someone regarding more areas. I would like to invest in buy and hold, and use a property management company.
Harper Woods, MI · Member since 2017 · 384 posts · 311 votes
7y
@Brittany King@Serena Ortega i think a partnership would be a great idea. I would be interested also it could increase our chances for obtaining a sizeable multifamily if the numbers make sense.
Yes, i actively invest in Detroit and the surrounding area. I'm speaking with Serena later on this week so she can better understand the market here.
I would be interested in looking into a partnership as well. I would like to get at least one deal beforehand though. I don't see that taking me too long to do. Maybe we could all have a conference call soon to talk about a plan.
Property Manager · Michigan Ctr, MI · Member since 2016 · 661 posts · 581 votes
7y
@Brittany King and @Serena Ortega I think Detroit is good place to look. Brittany, I couldn't help but notice that you might be in the military and if so, thank you for your service. We're a management & investments group which is veteran owned and extremely military & veteran friendly. We have and continue to partner with investors and we can also connect investors with wholesalers if that is something that works best - really we do a bit of everything from managing, to investing to wholesaling - many times taking the lead and other times working with local experts. In areas that we are familiar with we can typically bring in a dedicated local expert such as @Keyonte Summers here and oversee to ensure that the property is being driven to the investment goals you envision when you initially purchased it. Let me know if you need assistance and you can always reach out to me even if it's for 2nd opinion.
Hello everyone! I plan on heading out to the area early August and I would also love to learn more and meet others who are interested in building a team for buy and hold.
areavibes.com is pretty good for finding out areas with the lowest crime rates. and then you can just look on zillow to see the areas that propeties have sold in the last 30-60 days. That should give you at baseline idea of the areas to atleast start looking in
@Brittany King I’ve been living in Metro Detroit for about 2 years now. I think some good areas to invest are Farmington Hills, Novi, West Bloomfield, Troy.
I’m looking into investing too, just can’t find any good duplex’s to invest in. I wanted to do the house hacking thing. Ill have enough capital for a down payment in a few months.
Hello everyone! I plan on heading out to the area early August and I would also love to learn more and meet others who are interested in building a team for buy and hold.
Let me know when you plan on coming out, i just purchased my first duplex and will be closing in a few weeks. You have to know the right areas to find them to maximaze your return and minimize your risk in detroit.
@Keyonte Summers Congratulations on your first Duplex! What area did you buy in?
In HarperWoods which is a block or so from Detroit were a few of my others are in. The 4-5 property deal I had fell through because of how unprofessional the seller was and had used tactics preventing our due diligence phase. Was a bummer because the numbers worked out but the I wasted almost 2 months waiting on the seller to provide us paperwork on leases, water bills, etc
Yes, I'll finance a property(preferably a duplex). I've never invested in real estate before, researching and learning right now. I honestly have no idea what to look at.
Found something interesting about Detroit Real Estate: