Best sites to list an investment property for sale in Warren, MI?

Question

Hey BP community,

I have an investment property at 8158 Westminster Ave, Warren, MI 48089 that I'm trying to sell. It's currently listed with an agent through Keller Williams, and I have approval to also market it directly to find a buyer faster.

The city has already inspected it and issued no violations, so it's in good standing there.

Looking for recommendations on the best places to post it to reach serious buyers, especially cash buyers or investors. I've thought about investor Facebook groups, but wanted to hear what's worked well for others here. A few questions:

• Any specific Facebook groups or forums you'd recommend for Metro Detroit / Wayne-Macomb county investors?
• Is Craigslist or FSBO still worth it for investment properties, or mostly a waste of time now?
• Any paid platforms (like Connected Investors, PropStream leads, etc.) that have actually generated real buyer interest for you?
• Anything specific to the Warren/Metro Detroit market I should know?

Appreciate any advice, thanks in advance!

Drew Sygit · Answer

Our opinion is that no matter where you list it, you will have challenges selling at the current price.

WARNING: you may not like what we've written below, but sugar-coating it won't solve your problem.

Let's look at this LOGICALLY:

1) You have it on the MLS and it is vacant - which means ANYONE can buy it, not just investors.

2) Owner-occupants will typically pay the highest price for a SFR as they make emotional buying decisions, not analytical like investors.

3) Listing history:- July 9 @ $128,900- July 28 dropped the price $9k to $119,90Original listing price was obviously too high and is still too high.

4) Days On Market 42 days

5) Why would an investor pay your asking price?

6) If you're serious about selling it to an investor, where's the ROI sheet showing WHY it's a potentially solid rental investment?

General feedback on the listing:Agent not doing you any favors with crappy & missing pics!1) Overall this is a Class C rental due to the layout and condition. 2) Condition is not really appealing to an owner-occupant buyer3) House sits at back of lot, so no real backyard where family could have some "privacy"4) Appears "functionally obsolete" house has had a least one poorly done addition in the past5) Best use is probably a rental, but won't get top of market rent in area6) Remove the stump at left side of deck!7) Can see a lot of old wall patching under the paint8) Plugs, light switches & vents appear to have been painted over - sign of cheap paint job9) Corkboard ceilings are a turn off10) Kitchen has a terrible layout - functionally useless cabinet over fridge no one can access. No real counter space to prep meals.11) Dining area?12) Replace wall-mounted sink in bathroom a vanity (with storage drawers!)13) Why no pics of 2nd bathroom? Laundry room?14) Stairs to 2nd floor appear VERY narrow - sign upstairs is a converted attic15) No basement, no garage => no storage16) How old are the mechanicals?

DM us to discuss how to make it appealing to one of our 178 investors...