Real Estate Investor · Colchester, Select a State · Member since 2009 · 4 posts · 0 votes
I am looking to buy a couple of properties in Detroit with the intention of renting out long term.
1. What ZIP codes should I look at ?
2. Is putting the property in a HUD scheme worthwhile.
3. Is the rental market bouyant?
1. In my opinion you can't go by zip codes in Detroit (frankly in any major city (my opinion) - like any other city the areas to buy rentals in are might tighter then zip codes.
2. What do you mean HUD scheme? You mean buy a HUD property or use Sec. 8 to find tenants?
3. Yes - the market is as buoyant as ever - plenty of tenants - on average we have 3-5 qualified tenants for every home.
Hi Scott
I had an idea of using sec 8 to find tenants, good or bad ?
does the property have to meet certain standards?
and quite scarily some parts of the city look like a war zone