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Account Closed's profile image
Account Closed's profile image
Account Closed
  • from Canton, MI
  • Member since Sep 16, 2016
Account Closed's profile image
Account Closed's profile image
Account Closed
  • from Canton, MI
  • Member since Sep 16, 2016
Account Closed
  • Canton, MI
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General Real Estate Investing

Investing Metro Detroit Michigan

Account Closed
  • Canton, MI
Posted
19 year old investor looking to secure first property in Detroit/Metro Detroit. Looking for advice on best markets for buy and hold in Metro Detroit area. Let me know your thoughts! Thanks.
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Joe Hammel's profile image
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Joe Hammel
  • Real Estate Agent
  • from Metro Detroit, MI
  • Member since Nov 16, 2018

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Joe Hammel's profile image
Joe Hammel's profile image
Joe Hammel
  • Real Estate Agent
  • from Metro Detroit, MI
  • Member since Nov 16, 2018
Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
666
Votes |
612
Posts
Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
Replied

Old Thread, but perhaps can help someone searching the forums, or Luke if still needed:

Redford, Warren, Taylor, Hazel Park, Lincoln Park, Westland, are some of my favorites to recommend. It's the cities that border Detroit that you can buy: 

(General Numbers, can provide PDF reports and example properties for specifics)

- B-,C+, C, C-,  Neighborhoods

- 3 Bedroom 1 bath 1,000 sqft

- $50k-$85K purchase

- Rent $800-$1200

- Very Light, Light, or moderate rehabs

- ROI (12%-18%)

- $200-$400 cash flow per door. 

This seems to be the most popular profile with a realistic ability to find deals with manageable risk.

Investing in the Actual City of Detroit has a very high barrier to entry. There is a lot more, to learn and study to do it successfully.

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