Updated almost 12 years ago on . Most recent reply
Investing in Detroit
What does everyone think about buying and holding in Detroit? I didn't do a lot of research on this yet. However, I know Detroit properties are really cheap and they don't all seem to be in the bad of condition. Is it worth it? Has anyone invested there yet or have an opinion at all? Thanks.
Most Popular Reply
You're not going to find the 5k homes in the suburbs. The prices will be higher but the peace of mind you will have is priceless. Depending on how far you go from Detroit you can find homes for 20k and up although the 20k homes are in better areas than Detroit they still may not be the most favorable. The individual investors tolerance for risk has a lot to do with investing around the area as well as any other location. I personally do have a rental property located right off of 8 mile which is the border and it has served me well thus far.