Detroit, MI or Greensboro, NC

[Tadeh Vartanian]

Hi everyone,

New investor from California looking into deciding which market to start off in. I've narrowed my search down to Detroit, MI or Greensboro, NC. Two very different markets.

I would love some input from the BP community. My strategy is to buy and hold, targeting small multifamily or possibly single-family homes. Cash flow properties are a must, though I'm okay with lower COC return in exchange for more appreciation, market stability, or other benefits. Here are some factors I've considered already:

- NC is a more landlord-friendly state (source: rentcafe)
- Detroit has a higher population size, around 670,000, whereas Greensboro is around 290,000 (source: US Census)
- Detroit has a lower price/rent ratio (5.35) than Greensboro (15.84) (source: SmartAsset)
- Both have a price range I'm looking for
- NC has more cities to go if I choose to move to another city later on (Charleston, Raleigh).
- Better weather in Greensboro.
- Lower property taxes in NC.