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Updated about 6 years ago on . Most recent reply
Investing in Eastpointe, MI
Hello,
It has been my dream/goal to someday invest in East Detroit area. Grosse Pointe area, East Pointe, etc. I know the area has seen better days, but would it be wise to buy a house say at about 60K, that would be paid in cash, with about 2,100 in taxes? When I do the numbers, it gets a good cash flow at about $800 rent. (Might need a bit of work)
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Greg Scott
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Greg Scott
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Estelle:
There is a WORLD of difference between East Pointe and Grosse Pointe
I would happily live in one and you could not pay me to own a rent property in the other.
Be careful.