Another post on how much Detroit sucks?

[Matt Cramer]

I keep hearing about how much Detroit is the worst etc on the podcast. I have a feeling it's mainly being referred to as the scams that go on there and the people who take advantage of new investors. 

So rather than saying Detroit is the worst you can't make an honest buck there, I'd like to hear some peoples opinions on HOW you can invest in the Detroit area and do well. 

I'm moving to the area (about 45 minutes North) and I refuse to believe there aren't great investment opportunities there where you can safely make an honest living in flips, buy and hold etc.

@Brandon Turner

We gotta give Detroit some love. I like to think opportunity is everywhere and you just have to find it.

[Jason Farmer]

@Richard C.

I don't care what you or anyone else does for a living, this a website dedicated to R.E.I.

[Richard C.]

*whoosh*

[Mike Carino]

Originally posted by @Account Closed:

How about this... if you don't own property in Detroit and / or have ever been to Detroit for real estate due diligence... shut your mouth! Keep your ignorant opinions to yourselves. As for the investors buying Detroit like myself... we will continue to enjoy 30+% returns and the rest of you can be happy with your 1-3% returns. 

 +1,  there really is no other explanation to that comment.

@matt cramer If you want to invest in Detroit,  two questions.. who is your target market? Who is on your team to help you find deals and rehab to that target market?

Answers those two questions honestly, and have the checkbook behind the rehab projects and you can do terrific.

[Brett S.]

Personally I only invest in Detroit (suburbs). It's made me wealthy. I don't go near downtown but I know many that do, both commercial and sf and are successful. What's important is to be in the actual downtown, not one block farther. 

Also, there's a place called gross pointe which borders the east side of Detroit; cross 1 street and you go from burned out husks and grey concrete to green boulevards and $2m houses. 

In summary, Investing from afar is a bad idea in my opinion. 

It's as safe as anywhere else in the country if you know where not to get out of your car at night.  If you're in the wrong place at the wrong time you might as well be in the São Paulo slums, Caracas, or pretty much anywhere in Africa. 

But if you want safety, move to Asia. The USA is way more dangerous than pretty much all of Asia. 

[Christian Hutchinson]

If you are starting off in Northern Oakland County, lots of solid Real Estate in Northern Oakland/Macomb County.  Work Pontiac with Avondale Schools, Sterling Heights with Utica Schools.  I don't know how much cash and credit you have, but stuff between 75-125K is plentiful, and people will pay nice amounts of rent. Like $900-$1500, and they have stable jobs. Avoid Clawson(overpriced), or anything with Clintondale Schools. If its Warren Consolidated Schools make sure you get a deal, that area is changing, and you could be holding a dud in 5 years. Still keep an eye on Warren because they are trying to create a "downtown".  Lots of people have already hit the Van Dyke corridor anticipating, but we are waiting because I believe there will be inventory regardless, and money to be made.

I have lots of friends, and none of them when I am out for dinner or drinks say "I'm saving up to move to Warren". Warren is safe, its solidly blue collar, working class. There are 300K homes in Warren. IDK why you would buy a 300K home in Warren when you could just as easily buy the same exact new construction in Clinton Twp or Macomb Township, but thats just me.

Of course If you can get into Rochester, B-ham or Troy by all means do it.  We are trying to break into that market in the next 12-18 months. We just don't want a junk property though, we want a quality Brick Home.  We only do brick, don't ask me why,there are reasons, but I find them stupid because we don't plan on holding properties for more than 10 years.

[Bill Bodziak]

Originally posted by @Aaron Mazzrillo:

I've got Detroilet figured out. Here's how I'm going to make more money than all you fools...

 Great strategy haha