Any Detroit Real Estate Agents Available?

[Rachel Parrker]

I am currently trying to buy my first investment property. I'm interested in the Detroit market. I'm particularly interested in houses under $20,000 with tenants currently in place. Are there any Detroit real estate agents out there who could help me with this search?  

[Drew Sygit]

Travis is very right (hey Travis, don't forget about unpaid water bills!) and DJ M is hinting about that also.

Some advice: DO NOT buy a Detroit property via Quit Claimed Deed (QCD) unless you are an expert in the Detroit market! If you buy via Warranty Deed with title insurance, property tax and water bills will be zero'd out for your purchase.

We highly recommend visiting Detroit and looking at these $20k rented houses you're interested in. If pressed for time you can also zoom through neighborhoods via Google Street View - just pay attention to the date of the pics. You'll notice most of these properties will be in neighborhoods overrun with the 3 "B"'s - Boardups, Blowouts & Burnouts. Extremely unlikely to find acceptable tenants to live in those types of neighborhoods.