Thoughts on Detroit??

[Nerissa Minnick]

Hoping to get more opinions on Detroit for out-of-state investing. Long-term BRRR hold rentals, Can anyone can suggest neighborhoods to look into further?

[Joe Hammel]

@Nerissa Minnick

We love Metro Detroit

(my rental portfolio is here)

We recommend trying the suburbs first and then can alter strategy from there. (Most end up staying right there, including me lol)

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: 10-14%

Cash flow: $250-$350/door

Appreciation: Double digit (for past 10 years, will gladly send data)

Location: C, B- (suburbs and certain markets)

We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, mortgage, Amazon fulfillment, and more jobs.

The bad reputation comes from OOS investors wanting $20k D market properties. Don’t buy those lol.