I'm just getting into real estate investing and looking into the Detroit metro market. Anyone here investing in Auburn Hills, Southfield, Ferndale, or Warren? What are your experiences with investing in these cities? Based on some research it seems like there's good potential for buy and hold cashflow properties there.
Make sure you go to Meetup .com to find all of the local REI networking events. There's a huge community in Metro Detroit. you'll be welcomed with open arms.
Ypsilanti, MI · Member since 2018 · 189 posts · 127 votes
7y
Lots of Potential, check out the Metro Detroit Real Estate Investors facebook group. There's people posting questions and experiences about everyone of those cities, in addition to people wholesaling properties. Great place to start!
Harper Woods, MI · Member since 2017 · 384 posts · 311 votes
7y
@Kwaku Farkye those are some pretty solid areas Southfield is more expensive but you can easily get good returns with the number of people that would pay to be closer to their jobs.
Make sure you go to Meetup .com to find all of the local REI networking events. There's a huge community in Metro Detroit. you'll be welcomed with open arms.
Real Estate Coach · Member since 2018 · 245 posts · 216 votes
7y
@Kwaku Farkye I am predicting auburn hills hills will make a jump in the near future with home values. It is forecasted that OU will be a top producer for autonomous vehicles in the future. With that said I think this year the school will be one of the few testing the self driving shuttle bus on campus. Directly across the street the rent for the condos are 1500 to 1700 a month. Which has doubled within the last 5 years. I made my move by purchasing a 2 bed condo unit for 50K close by so I can catch the wave to.
@Darius Kellar awesome insight, much appreciated. I think investing in markets with a good university is smart, and OU seems to be making positive moves in the right direction.