Eminem Made Me Scared of Detroit

[Brendan Lawrence]

Eminem made me scared to invest in Detroit.

Not really.  Ive seen some stats that've waived me towards the city though and Ive lined up funding to where its time for me to pull the trigger. I'm a full time contractor out of Oregon and I want a duplex with a pre-reno purchase price under $75,000.  Under $50,000 even better.

I made the journey out to Memphis last year and got a taste for what I could be getting myself into when it comes to these lower priced houses.  I'm expecting that its probably pretty consistent no matter what city you're looking at once you hit a certain bottom of the barrel purchase price.

I have my funding approved for all stages of purchasing something that needs some fixing up and then holding the property as a rental. I'll come out myself with my trailer and do the majority of the work, depending on what I'm getting myself into. For my price range, what are the neighborhoods that you would pick if you had say, a month to come out and do a cosmetic upgrade to the majority of the place? I'm not looking to get into a full overhaul and if I can come out with a total investment of 75% ARV I'm fine with that. I dont need to hit it out of the park . I have my own thoughts on some of the places I've put together via heat maps and neighborhood ratings, etc. I'd like to avoid the same misrepresentation of these statistics that I experienced in Memphis though.

Any input is greatly appreciated.  Thanks guys and maybe I'll see you out there.

Brendan

[Travis Biziorek]

Hey Brendan, happy to talk Detroit. Nothing to be afraid of if you do your due diligence or work with someone that has. Sounds like you'll be hands on so there's even less to worry about. I own 12-doors in Detroit and live in California now. I was there from 2017 until last August and still visit ever 2-3 months.

It's really not about neighborhoods at the price points you're talking. It's more just making sure you're on a stable block. Duplexes under $75k might be pretty rough but I see them at times. I'm currently at the tail end of a full gut duplex and I'll be in for a total for ~$160k but I bought it from the DLBA about 3 years ago for $8k.

I have a ton of off-market deal flow and could potentially hook you up with something that makes sense. If you're open to single family houses I have one right now that could make a solid BRRRR especially if you're doing the work yourself.