Southfield and Royal Oak Metro-Detroit Markets

[Luke Kurili]

Been searching for my first property in the Metro-Detroit area. Have secured roughly $80,000 to finance the property. I’ve been researching the different markets and have been looking into Southfield and Royal Oak, Michigan. I noticed that in Royal Oak the market seems flooded with rentals and for sale houses, and in Southfield it seems like there are tons of apartment complexes. Was hoping to get feedback from investors in this area on if this is really the case and if the market for 1-4 unit rentals in these areas are too flooded at the moment. Could be totally wrong about this! Let me know your thoughts, thanks.

[David McCracken]

I agree with Keyonte, I think Royal Oak is a little priced out at this point. That's not to say that $80,000 won't take you a long way in metro-Detroit. A good Royal Oak alternative is Ferndale. The surrounding areas are worth considering as well (Oak Park, Hazel Park, Warren). I just saw a really nice duplex in Ferndale go pending. It was a brick build and close to downtown. I personally invest there and have had a lot of success. I'm considering selling a triplex that I currently own in Ferndale. Shoot me a message if you're interested in talking further!