Is Detroit a Great Place for Real Estate Investing?

[Jayvelyn Carbonel]

Real estate investment has been a lucrative venture for many people. Deciding where to invest in real estate can be a daunting task. Detroit is an undervalued real estate investment destination that is often overlooked. This city in Michigan is slowly making a comeback, and investors are starting to take notice. 

Detroit may not be the first city that comes to mind when considering real estate investment, but it has great potential. With low prices, high demand for rental properties, strong potential for appreciation, tax incentives, and renovation opportunities, investors should consider Detroit to diversify their real estate portfolio. However, it’s essential to consider the challenges of investing in Detroit, such as high crime rates and poverty, before deciding. Overall, Detroit has much potential for real estate investors willing to take a calculated risk.

[Logan Laperriere]

I agree Detroit can be a fantastic place to invest! 

[Michael Smythe]

Depends on where you invest in the City of Detroit.

Zip codes are hard to use to identify where to invest.

Block-by-block is the best way, but almost impossible for OOS investors.

That's why we use city Neighborhoods!

Not perfect, but works well for our clients:)

[Travis Biziorek]

I've been pounding the table on Detroit since I figured it out in early 2019. 

It's been pretty amazing watching the city's progress even since just then. And people are definitely starting to catch on. 

It's going to be great watching this continue to unfold.

[AJ Exner]

Absolutely,

I have a lot of clients working in Detroit and it has some great opportunities centered around 1-4 unit, affordable fixers that, with a little bit of work can become great cash flowing investments with lower annual tax and insurance costs.

The downside is that you definitely have to know what you are doing as the good properties need some hefty work, and the market is pretty competitive. I have folks that focus on delayed financing, because ‘cash is king’ and the need for quick, smooth transactions help to acquire these properties and get them moving. 

Having a good contractor and realtor has been pretty essential to my clients there, so would definitely start there. But like I said, some great opportunities for sure!

Good luck

[Eliana Ravazza]

Which zip codes do you recommend for investment in Detroi?

[Logan Laperriere]

Quote from @Eliana Ravazza:

Which zip codes do you recommend for investment in Detroi?

There are several great areas to invest. Detroit can vary block to block, it is best to work with a local agent who is familiar with Detroit and investing. 

[Cole Brittner]

Quote from @Logan Laperriere:

Quote from @Eliana Ravazza:

Which zip codes do you recommend for investment in Detroi?

There are several great areas to invest. Detroit can vary block to block, it is best to work with a local agent who is familiar with Detroit and investing. 

 @Logan Laperriere I’m OOS and interested in the area. Is around 100k a high enough budget to have something attractive enough rented out each month?

[John Mason]

@Cole Brittner Good morning 100k downpayment or you are looking for 100 k houses

[Cole Brittner]

@John Mason Good morning. Looking for around 100k asking price, although based on your response it’s perhaps much too low? I’m in Utah and 100k asking price would get me nothing which is why I’m searching other regions 

[John Mason]

@Cole Brittner

Please do a search on these forums example

https://www.biggerpockets.com/forums/12/topics/1135257-how-i...

[Cole Brittner]

@John Mason perfect, thank you for the resource!

[John Mason]

See if you can do due diligence and see these groups

https://www.facebook.com/groups/detroit.michigan.real.estate...