Detroit. Detroit. Detroit
Hey! I am new on BP. I've been watching the YT channel forever. Just watched Ashley show and it was great. I just finished a real estate couse with a group in IL. I am not horribly interested in using the IL team of lawyers, accountants, hard money lenders, etc., but would rather buy in MI. I've been getting MLS alerts for multi family homes under 100k in certain areas of Detroit. I'm checking the comps and what I think the ARV could be. I could really use a Detroit expert to help me not overpay. I have a good amount of capital to start but may need some additional help with financing. I am all ears to anyone in the area. Thanks! This home really peaks my interest. https://matrix.realcomponline....
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Honestly, property in the city comes with a whole different level of complication due to government bureaucracy, government incompetence, and government corruption. There are plenty of Detroit suburbs that offer similar value with less headaches. Relative to other cities, Detroit is quite small compared to the entire Metro, due to a 1950s law that halted its expansion. So, look beyond the city borders.
Not trying to be a downer, just a realist. I'd encourage you to look at Oak Park, Redford, Dearborn Heights, Allen Park, Melvindale, Warren to name a few.