Rental properties in Detroit

[Aishan Gonaduwage]

I am seeing good deals in Detroit that could cash flow in the current market. I’ve heard that Detroit is not a good place to invest as it is a city on the decline. Does anyone own rental properties in Detroit? Is it a good choice for investment? 

[Drew Sygit]

@Aishan Gonaduwage what specifically have you read, and how OLD was it, about Detroit being on the decline?

Population is growing, NFL Draft was the BEST EVER attended, prices are up over 20% last year, etc.

[Travis Biziorek]

Hey Aishan, I personally own 12-doors in Detroit and I live in California. I also assist folks (largely OOS investors) get started in the market there.

I'm happy to connect, chat about the market, and send you a ton of resources.

The city has been seeing a huge resurgence that goes back 10+ years now. I'm surprised you're still hearing negative things about it considering there's been so much positive press and chatter lately.

[James Wise]

Quote from @Aishan Gonaduwage:

I am seeing good deals in Detroit that could cash flow in the current market. I’ve heard that Detroit is not a good place to invest as it is a city on the decline. Does anyone own rental properties in Detroit? Is it a good choice for investment? 

 Detroit is very much like any other city in the Midwest. Cleveland, Baltimore, Toledo, Indy etc....You will see net population decreases in most of these areas but these are the areas where the prices are the lowest in the USA and come with rents that are very high when compared to the sales price. In real estate there is no perfect deal or perfect market. It's always a mix of pro's and con's.