Anyone Buying in Detroit?
Hi BP-Nation! My wife and I have drank the Kool-Aide and are diving in to the RE game. I am looking at some properties to buy/hold in Detroit. Has anyone been recently or invested out there? Any feedback is greatly appreciated!
Most Popular Reply
Hi Timoteo, We’ve been doing exceptionally well as OOS investors, developers, sellers, etc in Detroit. We are back and forth between Los Angeles and Detroit regularly but our clients here in Southern California, Utah and Florida etc are happily enjoying Detroit’s awesome rent to value ratios and monthly positive Cash Flow from the comfort of their own state. My fiancé’s sister and brother-in-law are also highly successful with over 100 units to themselves not to mention the full turnkey company they have where they are also selling a dozen properties or so every month. Funny thing is they are not just OOS they are OOC...They live in another Country!. Canada is nearby but still....You get my point. Paul was 100% correct though when he stressed the invaluable importance of having a strong boots on the ground team. Without the relationships directly or indirectly you leave yourself vulnerable to being as they say; getting milked like a cow. ;) Join the fun and invest in the Comeback City.......Go Detroit Go!!!