Turnkey Properties in the Greater Detroit Area

[Ahmed Elias]

Hi Guys !! - Has anyone in the BP Community invested in the Greater Detroit Area? I am a first time investor who has been doing a lot of research and was wondering what others thought about the Detroit market. 

I am aware that Detroit is sketchy but based on my research I found that there are a couple zip codes and streets that seem to be safe however wanted to know what others thought about Detroit. 

I am targeting houses that are 50 to 70K which are fully renovated and tenant occupied from day 1. Is it realistic to expect this in the Detroit area?

I would love to hear and learn from people who previously invested there and more importantly would they do it again if the right opportunity came to them ? 

Also what turnkey company did you decide to go with and why ? 

Thanks 

[Jamiel Strickland]

@Ahmed Elias,

Yes, with those numbers I find properties in decent neighborhoods with tenants in them. Detroit is block by block but doesn't mean that you can't find good neighborhoods. What your looking at is more than realistic, I have homes that I own that are like that and my realtor and myself find homes under $40k tenant occupied and no to minor repairs needed. 

I say most important is having a good PM and having some good handy men just in case your PM is slow. 

It is a good idea to invest in Detroit if you looking for juicy cash flow if you are looking for appreciation or want to do BRRR strategy I would not do so.