Detroit Michigan - Ann Arbor Michigan / Surrounding
What is the deal with Detroit?
Every post I read is filled with negative opinions. Is Detroit similar to Washington DC a few years ago? Where locals knew the few bad streets to stay away from but the general population thought of DC as one large ghetto?
I lived in DC the last few years, it was great being able to eat at restaurants and walk home.
I recently moved outside of Detroit and have gone up a few times to drive around and scope 'where not to invest' I don't see Detroit as it's been portrayed for so many years.....
It's a city, you can find rough areas if you search but its definitely on the up and up! What am I missing guys? Why are all posts telling me not to invest in buy and holds in Detroit?
Most Popular Reply
I own/manage 60+ single family homes in the Metro Detroit suburbs . Cities such as Westland /garden city /Dearborn heights /Redford areas . Great cash flow with great tenants can be had in these areas . All about 15 min from city of Detroit .
As far as the city of Detroit goes , a lot of challenges for investors . Downtown and a few small areas are A rental locations , but these areas have become expensive and will not cash flow . The other 95% of the city is low income areas with sub $50k houses with a bad tenant base . Difficult to find good tenants , difficult to do rehabs due to theft etc.