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Updated over 5 years ago,
Detroit Investing or Roof Stock
Hey everyone and GM!! So I'm a little stuck! I have around $40k cash! Should I invest in a Detroit and buy a cash house/duplex or use that money for a down payment in a better place through ROOF STOCK? Also has anyone heard of CITY MANAGEMENT GROUP in Detroit?
I have found some houses n Detroit for $25-30k cash that might need less than $5k to be livable in and can get around $600-700 a moth. Then again I look at roof stock and they look all clean and ready to rent out but of course are more money to buy ( $80-90k) but the rent on these I can get from are from $800-1000 which is almost the same I can get from the Detroit deals with $50k less !!! I'm ready to invest and just put my foot in the door, but I'm leaning towards Detroit this way I wont have any Mortgage payments :-) thoughts?