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Updated over 3 years ago on . Most recent reply

User Stats

12
Posts
1
Votes
Emma Lincoln
  • Investor
  • Vancouver, WA
1
Votes |
12
Posts

Looking for thoughts on Lansing, Toledo and North Detroit

Emma Lincoln
  • Investor
  • Vancouver, WA
Posted

I'm planning on moving 70% of my portfolio from OR / WA to the midwest. To start with, I'm looking to pick up 5-10 SFHs in a cash flow market. Trying to decide between Lansing, Toledo, and North Detroit (Warren area). 

Would love to hear from people who invest in one of these markets regularly and/or recently about why they would choose that market over the other two I listed.

Would also love to connect with any investors who would be willing to share actual numbers from a recent deal. I know there were killer deals in these places a couple of years ago, but want to make sure I'm understanding what recent deals are looking like. 

Thanks all! 

Most Popular Reply

User Stats

550
Posts
615
Votes
Joe Hammel
Agent
Pro Member
  • Real Estate Agent
  • Metro Detroit, MI
615
Votes |
550
Posts
Joe Hammel
Agent
Pro Member
  • Real Estate Agent
  • Metro Detroit, MI
Replied

@Emma Lincoln

My most recent purchase in Warren MI, purchase price or $81k - needs some love then will rent for $1300. Cash flow and ROI monster. The $75-$110k price point with rents of $1000-$1400 is very prevalent here in metro detroit.

Previously the deals were buy for $50k and rent for $850. Great deal. Now, the deals are buy for $90k and rent for $1250. Still a great deal because rents are higher now too.

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