Originally posted by @Jeff Helm :
Hello BP community!
I'm considering a rental investment property in Redford, MI. The property is already rented, the current tenants have lived there for about 3 years and pay $800 per month.
I'm concerned about the class of tenant in this area. If anyone has experience with rental properties in this area I'd appreciate you sharing the good, bad and ugly to help with my decision making.
The Cap Rate and cash flow seem great, just a little concerned about the clientele.
Where in Redford? I would say they go from C- in the bad areas to Solid B in the good areas.
the property is south of 7 mile, west of beach daly. What do you think of this location?
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.