Los Angeles to Detroit give me your thoughts...

Real Estate Agent · Los Angeles · Member since 2020 · 3 posts · 1 vote

Back story: Originally from Detroit, moved to Los Angeles in 2014, moving back for personal family reasons and want to make the right move (no pun intended).

Looking to purchase a starter home that will be turned into the first home of our rental portfolio. Ideally I'd like to invest out of state in the future (a state a bit more landlord friendly with a higher ROI) but if I want to make a tactical purchase in Detroit/Metro Detroit where would you suggest... budget $250-270k financed.

I'm thinking East English Village, Ferndale.. I love the University District but I don't know that much about it..

Thanks y'all!

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Yoann Dorat

Investor · Boca Raton FL · Member since 2017 · 255 posts · 188 votes

@Brittani Kathryn I wouldn’t consider Michigan a “landlord friendly state” but compared to California I guess it is 😂.

If I understand your goals correctly I think you should stick with the class B areas in the suburbs, the city of Detroit is definitely uprising but there are still many issues especially if you’re out of state with a low risk tolerance.

Southeast Michigan is our home market so feel free to reach out if I can help you in any way!

Good luck,

Yoann

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Brian Ploszay
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
5y
"Originally from Detroit," Do you mean its suburbs? Big difference. When investing in the City of Detroit, just know your stuff. Part of the City is making a comeback. But large portions of the City are blighted. You probably know this.
Basically, invest in the top 10% quality of that City, and you'll probably do fine.
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
5y
There's a big difference between Ferndale and anything in the city!
So, that's your first decision - suburbs vs City of Detroit.
Suburbs are safer investment, city is riskier, but higher corresponding potential reward.
Follow our "Deep Dive" series we're doing about Metro Detroit cities and City of Detroit Neighborhoods: https://www.biggerpockets.com/...
[email protected]248-209-6824
Logical Property Management4.9469 Reviews
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Dylan TanakaPro Member
Real Estate Agent · Detroit, MI · Member since 2008 · 455 posts · 178 votes
5y
@Brittani Kathryn, welcome to BP! Not sure why you'd ever leave Detroit for LA, maybe the weather and bad jokes...lol. If there are ever any Detroit/Metro Detroit questions or connections that I can help with please feel free to reach out.
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Yoann Dorat
Investor · Boca Raton FL · Member since 2017 · 255 posts · 188 votes
5y
@Brittani Kathryn I wouldn’t consider Michigan a “landlord friendly state” but compared to California I guess it is 😂.
If I understand your goals correctly I think you should stick with the class B areas in the suburbs, the city of Detroit is definitely uprising but there are still many issues especially if you’re out of state with a low risk tolerance.
Southeast Michigan is our home market so feel free to reach out if I can help you in any way!
Good luck,
Yoann
1 Reply
Gary Carver
Realtor · Detroit, MI · Member since 2018 · 387 posts · 129 votes
5y
@Brittani Kathryn. If you are considering Detroit. Yes East English, University District, Indian Village are popular areas..
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