Starting out with Investment
Hi,
I am looking to get my first rental investment. Detroit looks interesting, for the entry investment size. Are there any neighborhoods which folks would recommend for a passive, newbie, out-of-state investor, to invest in ?
This website is a good starting point for figuring out areas for in-state and out of state investors. Type in the address and use my classification for each score. It takes in account just about everything to give you a livability score.https://www.areavibes.com/
Here is my rating & classification for each livability score.
80 and above A+
78/79 A
76/77 A-
74/75 B+
72/73 B
70/71 B-
68/69 C+
66/67 C
64/65 C-
60/63 D
59 and below F
Best of luck!
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Real Estate Agent Texas (#0769458)
- 817-480-9452
- http://prestondean.kw.com
- [email protected]
- Lender
- Charlotte, NC
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Hi Abhishek,
Are you looking for a turnkey property or a rehab?
Mostly looking for turnkey for the first now, while I get better at dealing with it all
Hi Abhishek...Are you set on Detroit or are you open to other markets with a low barrier of entry, good job growth, good population growth, low property taxes, and a solid turnkey company with boots on the ground? There are a few good turnkey companies out there. I have 16 years of experience in the TK world and can help direct you on which markets to consider.
Feel free to DM me and I will give you the 411.
Cheers!
Open to every market at this point. I am looking for the best fit for me to start with.
I will DM you
- Property Manager
- Metro Detroit
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@Abhishek Agarwal We've ranked all the cities in Metro Detroit and 104 of the 173 Detroit Neighborhoods.
What do you want to know?
That’s perfect.
Is there a possibility for us to connect and look at data ?
Hey Abhishek, I've been investing in Detroit personally since 2019. I focus on purchasing solid off-market deals and BRRRR'ing them.
Happy to discuss how I can help, share some resources, etc. It's a great market with a ton of opportunity right now.
Hey Abhishek! Do you also consider other midwest states? I would say, the Ohio market in general is a very beginner friendly state to get started with your real estate journey. I have seen so much growth in Columbus when it comes to appreciation and job opportunities which I have experienced. On average, 80 people move into Columbus weekly. It has seen significant growth, especially with tech giants like Intel, Meta, Amazon, and Google setting up operations, driving up property prices and job opportunities. On the other hand, if you have a lower budget, let’s say $100-$150k. Cleveland would be a great market for you. I have experienced cash flow anywhere from 10-18% with so much more to offer. As a real estate agent and an investor, I am on the market daily and explore opportunities for myself and my clients. Let me know if you need assistance!
Hi, as an Ohio Realtor, Ohio is a great place to invest in real estate. If you have any questions, please feel free to contact me. Thanks!
Regina Blake-Ohio Realtor
Quote from @Abhishek Agarwal:
Hi,
I am looking to get my first rental investment. Detroit looks interesting, for the entry investment size. Are there any neighborhoods which folks would recommend for a passive, newbie, out-of-state investor, to invest in ?
Hey Abhishek, I think you should look into the Columbus market. There has been a ton of growth here over the last 3-5 years. The market is booming in both the business and real estate sectors. New companies like Intel, Amazon, and Google are also investing here.
I own all of my investment properties here and work with a lot of out-of-state investors in both the east and west coast that love investing here for the turnkey and BRRRR opportunities that we have here. I made some resources for my out-of-state investors like a neighborhood graded map and contractor rolodex that I can share with you!
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Real Estate Agent ohio (#2022006870)
- 614-802-5698
- https://www.reafcorealestate.com/team/alfath-ahmed
- [email protected]
It is a little more complicated than recommending zip codes to invest in since Detroit is a very block by block marketplace. Sometimes it comes down to not just identifying strong subdivisions within certain zip codes but even specific blocks within those subdivisions. Best advice I can give is to connect with an honest team on the ground that will go over all the pros and risks of the marketplace so you can get a clear picture of Detroit.
My team and I have had a lot of success in the Detroit Michigan marketplace and I am always happy to chat about Detroit real estate ! feel free to reach out anytime.
- Property Manager
- Royal Oak, MI
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@Abhishek Agarwal if you're interested in Detroit Neighborhood info, please PM us.
Quote from @Abhishek Agarwal:
Hi,
I am looking to get my first rental investment. Detroit looks interesting, for the entry investment size. Are there any neighborhoods which folks would recommend for a passive, newbie, out-of-state investor, to invest in ?
Hi Abhishek, I'd recommend that you also look into Columbus Ohio. I like Columbus Ohio because I see it being one of the biggest metropolitan cities in the next 10-20 years, all signs are pointing here! Population is growing aggressively and jobs are moving here especially with major employers like Intel, Google, Amazon, Nationwide, etc. On top of that, you have one of the biggest and best universities in the world here with Ohio State University. The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here. On top of that, you get great appreciation and very landlord friendly laws. Tons of investors are buying Columbus up! As an investor and agent here, let me know if you have any questions or want to connect
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Real Estate Agent Ohio (#2023000087)
- 614-300-7535
- https://linktr.ee/jimmysellscolumbus
- [email protected]