Investing in detroit

Detroit, Michigan
Out of State Investing
8moFollow

Investing in detroit

Jared Rollins
Member since 2019 · 15 posts · 3 votes

I'm looking to buy rentals in Detroit. I have a couple real estate agents sending me properties. Someone mentioned there's a way to assess the taxes on a property to make sure it cash flows. I was also hoping someone had a street-by-street map. I have seen them posted previously. The agents are sending me lots of properties and I'm pulling up the properties on a crime map and they are all in heavy crime areas. I was told by an agent this doesn't really matter but that seems like a red flag. Any additional tips and stuff I should watch out for would be appreciated.

1Reply
92 views

Most Popular Reply

Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
8mo
Quote from @Jared Rollins:

I'm looking to buy rentals in Detroit. I have a couple real estate agents sending me properties. Someone mentioned there's a way to assess the taxes on a property to make sure it cash flows. I was also hoping someone had a street-by-street map. I have seen them posted previously. The agents are sending me lots of properties and I'm pulling up the properties on a crime map and they are all in heavy crime areas. I was told by an agent this doesn't really matter but that seems like a red flag. Any additional tips and stuff I should watch out for would be appreciated.


 We've got most of that covered, so DM us to chat:)

[email protected]248-209-6824
Logical Property Management4.9459 Reviews
WebsiteView Page
1Reply
See this reply in the discussion

4 Replies

Jump to latestLatest
  • Jason WrayPro Member
    Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
    8mo

    Jared,

    The process you need to follow is get a "Pre-Approval" from a mortgage Banker or Loan officer. Then email a copy of the prequal over to the agent which will give them the numbers you are pre-approved for like sale price, Maximum monthly payment which should contain PITI.

    A realtor has access to MLS, public records and property appraisers website that discloses annual taxes. Your banker can also find that info and run the full PITI payment to ensure you will cash flow. If you need any help feel free to check out my profile and send me an email.

    [email protected]727-637-4289
    0Reply
    • Jared Rollins
      OP
      Member since 2019 · 15 posts · 3 votes
      8mo
      Quote from @Jason Wray:

      Jared,

      The process you need to follow is get a "Pre-Approval" from a mortgage Banker or Loan officer. Then email a copy of the prequal over to the agent which will give them the numbers you are pre-approved for like sale price, Maximum monthly payment which should contain PITI.

      A realtor has access to MLS, public records and property appraisers website that discloses annual taxes. Your banker can also find that info and run the full PITI payment to ensure you will cash flow. If you need any help feel free to check out my profile and send me an email.

       Thanks for the info. I have purchased rentals and done flips etc before. So I'm not completely new to investing. I'm already pre-approved and trying to reduce risk before I purchase in the area. I'm trying to build up a rental portfolio instead of focusing on flips at the moment.

      0Reply
  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 948 votes
    8mo

    @Jared Rollins

    Hey Jared, welcome to investing! A good starting point is focusing on strong, cash-flow-friendly neighborhoods rather than chasing every deal. Taxes, insurance, and maintenance all play into whether a property truly cash flows, so run the numbers conservatively. Street-by-street data and neighborhood grading can be a game changer, and even modestly undervalued areas in the Midwest can outperform higher-risk urban markets. Take your time analyzing deals and prioritize quality over quantity, it’ll save headaches and protect your cash flow.

    [email protected]614-418-6081
    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    8mo
    Quote from @Jared Rollins:

    I'm looking to buy rentals in Detroit. I have a couple real estate agents sending me properties. Someone mentioned there's a way to assess the taxes on a property to make sure it cash flows. I was also hoping someone had a street-by-street map. I have seen them posted previously. The agents are sending me lots of properties and I'm pulling up the properties on a crime map and they are all in heavy crime areas. I was told by an agent this doesn't really matter but that seems like a red flag. Any additional tips and stuff I should watch out for would be appreciated.


     We've got most of that covered, so DM us to chat:)

    [email protected]248-209-6824
    Logical Property Management4.9459 Reviews
    WebsiteView Page
    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free