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Updated almost 4 years ago,
Best way to invest in Detroit rental property?
I’m pretty committed to investing in a buy and hold rental in Detroit and not yet sure the best approach. First let me say I live in another city but am in absolute love with Detroit (I’ve been many times) and its communities and want to plant roots. I’ve been thinking of investing in a turnkey with tenant for under 60k. I’ve read all the warnings on the post, however I think I’m in a bit of a different position in that I’m not against holding on to this home for 5+ years with 2%+ rent to price ratio with the the chance of it becoming my own home and investing in a 2nd property (maybe even a land lot).
Any updates on a reputable turnkey company in Detroit? I’ll be back in Detroit in a couple of weeks and would like to meet with turnkey companies, mortgage brokers and any likeminded people who truly believe in building back up Detroit.