Opportunities in Michigan

[James Hardie]

Hey all, currently reading Craig Curelop's House Hacking Strategy, articles, and listening to podcasts. As someone who doesn't know the markets too well in Michigan and even though the markets aren't too hot right now it hasn't stopped me from continuing my education and goal. Any agents or investors in the metro-detroit area have a place to start or have any tips/recommendations. I would like to talk or email with anyone. I'le be doing some research on the side but I thought I would get some feedback.

[Josie Brown]

Hi James! There are some great places to invest here in metro Detroit. I'd be happy to connect and chat with you about some areas to consider.

[Jack Mawer]

Podcasts and articles are most definitely the way to get started within hacking as well as talking to people with experience (even better if they are local to you). Best of luck!

[Scott Mac]

The way I view Michigan in a macro sense is (a Rabbit jumping over a Mitten made up of):

D-Town proper-- Dangerous are with fixup areas inside the border. Lots of Vibe, and lots of old buildings and homes awaiting fixers. But you have to know where to be and where not to be to avoid personal danger.

Metro-Detroit--(outside D-Town Proper) Lots of Pro's in there touting this area, again you need to know the turf.

Eastern Michigan--above Metro Detroit. Up to Bay City. Not so hot due to not so many jobs coming in as western Mich.

Includes Flint (Crime), home of the Lead in the water issue, and Saginaw (less crime than Flint). 

Central Michigan--around the Capital. It's the State Capital and a HUGE College.

Western Michigan--Has been the hot area for a while, but turns into "The Stix" above and below it. You need to know the turf.

Northern Michigan--Deer hunting, fishing, ducks. It's a water, winter wonderland, a sportsman's dream. Above Western and Eastern Michigan to Mackinac and the BIG Bridge.

The U.P.--So beautiful, waterfalls, tourist areas, and psudo Wisconsin. 

And inside each of these areas will be cities and towns and within them will be NEIGHBORHOODS, class A, B C and D.

Knowing which neighborhoods are good for investing is a helpful thing.

Good Luck!

In case you have never heard of these guys: https://www.jameshardie.com/?loc=refresh

[James Hardie]

Quote from @Jack Mawer:

Podcasts and articles are most definitely the way to get started within hacking as well as talking to people with experience (even better if they are local to you). Best of luck!

 Thank you Jack

[James Hardie]

Quote from @Scott Mac:

The way I view Michigan in a macro sense is (a Rabbit jumping over a Mitten made up of):

D-Town proper-- Dangerous are with fixup areas inside the border. Lots of Vibe, and lots of old buildings and homes awaiting fixers. But you have to know where to be and where not to be to avoid personal danger.

Metro-Detroit--(outside D-Town Proper) Lots of Pro's in there touting this area, again you need to know the turf.

Eastern Michigan--above Metro Detroit. Up to Bay City. Not so hot due to not so many jobs coming in as western Mich.

Includes Flint (Crime), home of the Lead in the water issue, and Saginaw (less crime than Flint). 

Central Michigan--around the Capital. It's the State Capital and a HUGE College.

Western Michigan--Has been the hot area for a while, but turns into "The Stix" above and below it. You need to know the turf.

Northern Michigan--Deer hunting, fishing, ducks. It's a water, winter wonderland, a sportsman's dream. Above Western and Eastern Michigan to Mackinac and the BIG Bridge.

The U.P.--So beautiful, waterfalls, tourist areas, and psudo Wisconsin. 

And inside each of these areas will be cities and towns and within them will be NEIGHBORHOODS, class A, B C and D.

Knowing which neighborhoods are good for investing is a helpful thing.

Good Luck!

In case you have never heard of these guys: https://www.jameshardie.com/?loc=refresh

Appreciate the feedback not so looking into D-Town and Eastern Michigan as a start by what you have to say and working in those areas but looking someone in central or western like you said may be something I'le look into. I've lived in Brighton my whole life north of Ann Arbor and all the areas around are nice. Finding opportunities not too far though from hometown but may be a risk I'le have to consider

[Drew Brown]

Quote from @James Hardie:

Quote from @Scott Mac:

The way I view Michigan in a macro sense is (a Rabbit jumping over a Mitten made up of):

D-Town proper-- Dangerous are with fixup areas inside the border. Lots of Vibe, and lots of old buildings and homes awaiting fixers. But you have to know where to be and where not to be to avoid personal danger.

Metro-Detroit--(outside D-Town Proper) Lots of Pro's in there touting this area, again you need to know the turf.

Eastern Michigan--above Metro Detroit. Up to Bay City. Not so hot due to not so many jobs coming in as western Mich.

Includes Flint (Crime), home of the Lead in the water issue, and Saginaw (less crime than Flint). 

Central Michigan--around the Capital. It's the State Capital and a HUGE College.

Western Michigan--Has been the hot area for a while, but turns into "The Stix" above and below it. You need to know the turf.

Northern Michigan--Deer hunting, fishing, ducks. It's a water, winter wonderland, a sportsman's dream. Above Western and Eastern Michigan to Mackinac and the BIG Bridge.

The U.P.--So beautiful, waterfalls, tourist areas, and psudo Wisconsin. 

And inside each of these areas will be cities and towns and within them will be NEIGHBORHOODS, class A, B C and D.

Knowing which neighborhoods are good for investing is a helpful thing.

Good Luck!

In case you have never heard of these guys: https://www.jameshardie.com/?loc=refresh

Appreciate the feedback not so looking into D-Town and Eastern Michigan as a start by what you have to say and working in those areas but looking someone in central or western like you said may be something I'le look into. I've lived in Brighton my whole life north of Ann Arbor and all the areas around are nice. Finding opportunities not too far though from hometown but may be a risk I'le have to consider

Lansing and central michigan is a great and still valuable market area. I would be happy to talk about those areas? 

[Drew Sygit]

@James Hardie

You might want 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/...
(BP search feature can be problematic, so we’ve also added links @ our website under View Cities & Neighborhoods We Service)

Please send us any feedback via email, as we do not use the DM feature here.

[Joe Hammel]

@James Hardie

Check out FIRE Realty Team on here and google

[Joe Hammel]

@James Hardie

Metro Detroit

(my rental portfolio is here)

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: 10-14%

Cash flow: $250-$350/door

Appreciation: Double digit (for past 10 years, will gladly send data)

Location: C+, B- (suburbs and certain markets)

We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints. Ever hear of Ford, Rocket mortgage, or Beaumont hospitals? All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.

The bad reputation comes from OOS investors wanting $20k D market properties. We don’t buy those lol.