Interested in flipping in Detroit

4 Replies

Detroit has caught my eyes and I want to connect with those that are active in the city. Feel free to contact me. I want to learn the city and plan a trip there. I’d like to plan my trip around the time that there is a meet up happening if possible. I’m looking to flip properties and acquire rentals along the way.

Are you planning on being a out of state investor? If so you really need to get a feeling for the neighborhoods and which area are good to invest in. Have you done any research on areas, PM's or just in the early phases? I currently invest in detroit with a few buy and holds. I would be interested in flipping also just havent found a home run deal yet.

@Dorian Jones

The first question is why Detroit? Is it just because it's cheep? It isn't as cheep as people tend to think. 

If you are not local I would play "Follow the Billionaires".  Invest in the areas Dan Gilbert (the Quicken Loans guy), the Illich Family, and the Ford Family are investing. Those areas can be much more expensive than some out-of-towners expect.

@Christopher M. thanks for the response. I chose Detroit because I have been following the market trends there and see that the city is really working on revitalizing it.

Not looking for it to be super cheap, but it is cheaper than Los Angeles and May have a lower entry barrier. Before I pull the trigger I will come to the city to make my final verdict to invest there or not to invest.