Flipping in Detroit?

Question

We are considering several different markets for flipping single family homes and cater to entry level home buyers. We like to buy under $30,000 but preferably closer to 20k. Is Detroit a profitable market?

Keyonte Summers · Answer

Not , at that price point anymore. You are looking to purchase in D class areas at that price and you would need to flip the entire block or two for the numbers to make sense

Lamar Lee · Answer

It's very possible in Detroit. I'm currently finishing up a project that fits that description.

Purchase Price: $1,000

Rehab budget: $65,000

ARV: $90K-$100K

Gross Monthly Rent: $900

Kelly Orth · Answer

I am still trying to figure it out!

Kelly Orth · Answer

Still trying to figure it out!

Michael E. · Answer

What market did you decide on?

Bud Gaffney · Answer

@Kelly Orth buy and hold

Kelly Orth · Answer

Ty!

Drew Sygit · Answer

You might find it helpful to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...

Kelly Orth · Answer

Ty for your input!

Scott M. · Answer

You are many, many years to late for those prices unless you don't mind D or less areas.  Doesn't mean you won't find a unicorn near 30K every now and again but for the most part (like 99.999%) this price point is going to be junk and far from stable or safe.

Flipping in Detroit?

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