Detroit Michigan - Ann Arbor Michigan / Surrounding

[Joseph Lewis]

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?

[Account Closed]

Many say that Greece should have declared bankruptcy like Detroit.  Instead we were bailed out by the IMF and EU, in exchange for pay cuts and austerity measures.   Detroit has a better chance of recovering than Greece.  

[Michael O.]

@Joseph Lewis I'm born and raised in Detroit and have also lived in DC for a few years. To say that Detroit is similar to DC 6-7 years ago is not far off, but like others have said, DC has the ability to pump money into infrastructure in the name of increased government, etc.. 

Detroit is definitely coming back in a slow and steady pace. The 7.2 CBD being rehabbed and brought back online by billionaires such as Dan Gilbert and crew have been the first part in repairing 50 years of neglect and decline. Certain neighborhoods are starting to see private equity come in to help turn them around; Grandmont/Rosedale, Bagley, East English Village, Corktown, etc. University of Michigan has partnered with the city to find a way to improve the poor state of education. 

The main issues that Detroit needs to fix before middle class families decide to move back is the education system and insurance rates. Good public schools need to get brought back online and insurance rates need to drop drastically. The blatant red-lining from insurance companies is insane and a HUGE reason why people don't change their residency to Detroit even when they move here. I still use my relatives address in the suburbs to save $100+/mo in insurance, as do many many others -- this is why the population is still "declining" though thousands of new units have come back online and tons of people live downtown again.

Long story short, do your research on the neighborhoods you want to invest in, talk to people that actually live and invest here. Don't watch mass media news to get your stories about the City. I'd be happy to chat some time if you want to learn more.

Good luck!

[Bala A.]

Originally posted by @Don Konipol:

@Estelle Angelinas

Honestly, I don’t think you can compare Athens, Greece to Detroit, Michigan as tourist destinations! LOL

I may suggest otherwise... There is much to see and experience in Motown.

https://detroit.curbed.com/2018/11/14/18095103/detroit-top-travel-destination-2019-fodors?fbclid=IwAR0J2T37a0NwPEvch3IPIdTL_4AFNwZmUbeRHxVbTpXRc3oeS2u139MwVCU

[Bala A.]

Originally posted by @Michael O.:

@Joseph Lewis I'm born and raised in Detroit and have also lived in DC for a few years. To say that Detroit is similar to DC 6-7 years ago is not far off, but like others have said, DC has the ability to pump money into infrastructure in the name of increased government, etc.. 

Detroit is definitely coming back in a slow and steady pace. The 7.2 CBD being rehabbed and brought back online by billionaires such as Dan Gilbert and crew have been the first part in repairing 50 years of neglect and decline. Certain neighborhoods are starting to see private equity come in to help turn them around; Grandmont/Rosedale, Bagley, East English Village, Corktown, etc. University of Michigan has partnered with the city to find a way to improve the poor state of education. 

The main issues that Detroit needs to fix before middle class families decide to move back is the education system and insurance rates. Good public schools need to get brought back online and insurance rates need to drop drastically. The blatant red-lining from insurance companies is insane and a HUGE reason why people don't change their residency to Detroit even when they move here. I still use my relatives address in the suburbs to save $100+/mo in insurance, as do many many others -- this is why the population is still "declining" though thousands of new units have come back online and tons of people live downtown again.

Long story short, do your research on the neighborhoods you want to invest in, talk to people that actually live and invest here. Don't watch mass media news to get your stories about the City. I'd be happy to chat some time if you want to learn more.

Good luck!

 Great post, summed it up very well.

[Sarah Lorenz]

Here is a very informative article from the Detroit News a couple days ago--a broad overview of what to expect/watch for in Metro Detroit and Michigan in 2019.

https://www.detroitnews.com/story/news/local/michi...

[Marvin Rice]

Originally posted by @Michael O.:

@Joseph Lewis I'm born and raised in Detroit and have also lived in DC for a few years. To say that Detroit is similar to DC 6-7 years ago is not far off, but like others have said, DC has the ability to pump money into infrastructure in the name of increased government, etc.. 

Detroit is definitely coming back in a slow and steady pace. The 7.2 CBD being rehabbed and brought back online by billionaires such as Dan Gilbert and crew have been the first part in repairing 50 years of neglect and decline. Certain neighborhoods are starting to see private equity come in to help turn them around; Grandmont/Rosedale, Bagley, East English Village, Corktown, etc. University of Michigan has partnered with the city to find a way to improve the poor state of education. 

The main issues that Detroit needs to fix before middle class families decide to move back is the education system and insurance rates. Good public schools need to get brought back online and insurance rates need to drop drastically. The blatant red-lining from insurance companies is insane and a HUGE reason why people don't change their residency to Detroit even when they move here. I still use my relatives address in the suburbs to save $100+/mo in insurance, as do many many others -- this is why the population is still "declining" though thousands of new units have come back online and tons of people live downtown again.

Long story short, do your research on the neighborhoods you want to invest in, talk to people that actually live and invest here. Don't watch mass media news to get your stories about the City. I'd be happy to chat some time if you want to learn more.

Good luck!

Well stated!

[Diego H Schammas]

@Michael O.Hi Michael, My name is Diego, I’m from Argentina. Im looking to invest in single Family Homes in Detroit. Im visiting The City for the first time next week. Any recomendation on who to contact or neighborhoods to visit ? Thanks.

[Ryan Thomas]

@Joseph Lewis I recently moved to Michigan, I commute to Detroit everyday and work at Quicken Loans. I have wondered the same exact question? Detroit IS on the up and up and I don’t see why everyone is saying to stay away from Detroit

[Justin Alex]

@Diego H Schammas I am a realtor in the area. I would be happy to answer any questions you have or just show you around. Feel free to reach out anytime

[Jordan Holland]

@Justin Alex hey I would love to chat with you when you have a chance