Investing Metro Detroit Michigan

[Luke Kurili]

19 year old investor looking to secure first property in Detroit/Metro Detroit. Looking for advice on best markets for buy and hold in Metro Detroit area. Let me know your thoughts! Thanks.

[Joe Hammel]

Old Thread, but perhaps can help someone searching the forums, or Luke if still needed:

Redford, Warren, Taylor, Hazel Park, Lincoln Park, Westland, are some of my favorites to recommend. It's the cities that border Detroit that you can buy: 

(General Numbers, can provide PDF reports and example properties for specifics)

- B-,C+, C, C-,  Neighborhoods

- 3 Bedroom 1 bath 1,000 sqft

- $50k-$85K purchase

- Rent $800-$1200

- Very Light, Light, or moderate rehabs

- ROI (12%-18%)

- $200-$400 cash flow per door. 

This seems to be the most popular profile with a realistic ability to find deals with manageable risk.

Investing in the Actual City of Detroit has a very high barrier to entry. There is a lot more, to learn and study to do it successfully.