Buy & Hold Investing in Hamtramck, MI
Hi all,
I'm currently looking to start investing in the Detroit area from out of state -- small MFH or SFH for buy & hold rental. I'm looking in a few mile wide area around the city including suburbs and looking to spend between $75-140k w/ minor rehab. I have some family in Royal Oak that are helpful for giving me on-the-ground impressions of areas/homes, but am curious on BP folks' thoughts. I've looked through many of the other posts on Detroit, but haven't seen much mentioned about Hamtramck, which is an area that is currently catching my eye. Any thoughts on Hamtramck or other possible neighborhoods/suburbs that could fit my investment criteria would be much appreciated. Thanks!
Most Popular Reply
Bagley and University are nice places but it comes with a price because many are aware now and investors are running there. Now not to say if you find a deal there not to buy, you buy in those areas (they are hot areas for a reason lol)! Bagley and University District have been on fire but it's a lot of other small pocket areas in Detroit that still has potential and lower priced.