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Updated over 7 years ago,
Help! ( Atlanta, Houston or Orlando?)
Hello everyone!
I just discovered this app which I'm delighted and relieved. I'm first time inexperienced real estate investor. Here's my story:
I didn't know anything about investing in real estate when a friend of mine told me about Detroit back in 2012. I came and felt in love with architecture and some neighborhoods, I just love historic houses. I wanted to be part of Detroit came back which I'm happy I did, property here at the time was very cheap so I bought two, cash. Once I realized how fast real estate was going up I sold my house in Miami and moved here last year, I knew it was going to be for a short period of time but the reason I moved was to be closer to my properties ( I had acquired a third) and manage the tenants cause doing it from FL was a nightmare. What happened lately here in Detroit as many of you know is that you don't find good properties in the good areas that can be flippable. ( you still can if you look harder) and the good contractors are already taken by the big investors.
I'm not going into details on how many times I was taken advantage by many contractors ( replacing one after the other) , tenants, lawyers, and the money hungry city of Detroit. I know, I was out of state and inexperienced what did I expect? Overall I can't complaint that I lost money here yet, I just think it's time to move on.
I'm ready to cash out and looking for another place I can invest. I want to be closer to a big airport ( my spouse job requires it) and want to flip and have some rental properties, in a landlord friendly, good rental market. We like Atlanta a lot but real estate still expensive, Houston /Dallas and Orlando are other options. Any advice about these places or somewhere warm would be greatly appreciated!
Joe