New Investor Looking to Break Detroit Real Estate Market

[DJ Cespedes]

Hi Everyone,

I just joined this forum as I am looking to break into the Real Estate business and this seems to be a great resource in terms of community and information. 

I live in California and I am looking to purchase my first investment property and looking to buy in the Detroit area (where I am originally from). I figure Detroit would be a good starting point since I am familiar with the city and still have connections there.  Since I live in CA, I am most likely looking for turnkey rental properties where I can work with a property manager and my involvement would be minimal. 

That said, I am unfamiliar with the process and looking to get some guidance or find an agent who can work with me to navigate the process and ultimately make my first purchase. Ideally.  Are there any recommendations that can be provided? 

Also, can anyone provide any insight on the hottest "up and coming" neighborhoods to invest in? I am looking for high growth areas that are still affordable and can still provide a solid return. 

Thanks! 

Don 

[James Wise]

Originally posted by @DJ Cespedes:

Hi Everyone,

I just joined this forum as I am looking to break into the Real Estate business and this seems to be a great resource in terms of community and information. 

I live in California and I am looking to purchase my first investment property and looking to buy in the Detroit area (where I am originally from). I figure Detroit would be a good starting point since I am familiar with the city and still have connections there.  Since I live in CA, I am most likely looking for turnkey rental properties where I can work with a property manager and my involvement would be minimal. 

That said, I am unfamiliar with the process and looking to get some guidance or find an agent who can work with me to navigate the process and ultimately make my first purchase. Ideally.  Are there any recommendations that can be provided? 

Also, can anyone provide any insight on the hottest "up and coming" neighborhoods to invest in? I am looking for high growth areas that are still affordable and can still provide a solid return. 

Thanks! 

Don 

 Welcome to the site Don. You already know the Detroit market so that's a big hurdle you've already passed. From there what you want to do is reach out to agents who work at Brokerages that handle Property Management. Ya see, most agents don't understand the rental business as it's way different from the traditional sales of a regular residential agent. By going to a Brokerage that is primarily a Property Management company you'll ensure you are working with people who understand the business you are getting into.