Investing in detroit

[Ashley Correa]

Hello Everyone,

I am planning to invest in Detroit, I am currently from denver where the population keeps increasing and the prices dont drop from the 100k mark. I want to invest in the fitzgerald area as i have found some great properties in that area that can be rehabbed and rented out. 

What would you guys recommend? 

[Danielle E.]

@David Barrett

I agree. From what I saw in my last visit, things appear to be on an upward momentum. I read an article about the new Ford Campus coming to the old train station and bringing thousands of new jobs to the area. Corktown has some nice new condos and lots of construction is going on in the area as well. What will truly revitalize downtown is the addition of some big box stores like a Target for downtown and midtown residents. It makes no sense for residents in Detroit proper to have to drive all the way to the suburbs for basic amenities. The condos around Whole Foods are quite nice as well. Certain areas look reasonably populated and I saw plenty of people walking around in the evenings. I was there during the gentrification and revitalization process in downtown Brooklyn and no one would have believed that downtown Brooklyn (a former haven for drug addicts) would ever turn around either. Brownstones in Red Hook, Bedstuy and Fort Greene (the former locations of very run down project buildings) are all now unaffordable to the average Joe.