All Forum Posts by: Trace P.

@Brandon Foster thanks! My end goal is whereever I can get at least around 8% ROI. So far from my research and conservative calculations it seems like C or B- class neighbourhoods can work, properties that cost less than $100k. But i understand the poorer neighbourhoods could come with higher risk of eviction/vacancy. Of course if I could get 8% ROI in a good neighborhood that would be best, just haven't managed to find one yet. Do you have any advice to share about Wyandotte?

@Matthew John thanks for the info! Honestly I never came across the master plan, I shall go look for it 😃

Hi! I'm new to this forum and to property investment. I've done a ton of research the past year on property investment in the States and am really keen to buy my first property this year. I actually don't reside in US (I stay in Asia) hence I can't get active info from the ground, but I did live in Michigan for 2 years and traveled around the States.

Two key cities which caught my attention were Columbus and Detroit. However I've a few doubts which I couldn't find answers to online and I hope the great people in this community could help (I got a hell lot of good advice from these BP forums, thanks!) :

For Columbus, everything seems great except the "1% rule". It seems that property in a decent (B class) neighborhood easily costs $130+k, but they appear to rent out at about $900. This is of course based on Zillow as I don't have direct contacts with people on the ground there. Anyone have insights on this?

As for Detroit, I understand the city is growing and you can get really low cost decent property there. However, the economy seems to heavily depend on the automotive industry, which I thought would not thrive in times of recession (e.g. compared to schools or healthcare). Any advice on this?

I'm trying to build my network and find reliable agents and property managers which I can talk to as well despite being overseas, hence any recommendations are welcome, thanks!