Buy and Rehab hold rental property in Detroit Michigan

[Dalila A.]

I am interested in buying and holding properties in an area where there is low barrier to entry. While practicing analyzing deals I came across this property . There seems to be an area that there are multiple properties for less than 10 K. After looking at the area school district the last reviews are from 2013. Can anyone who invests in this area share some light as to why no one is taking advantage of the properties in this area?

2465 Elmhurst St, Detroit, MI, 48206 | realtor.com®

[Drew Sygit]

@Dalila A. there's a reason these properties are so cheap!

The property you posted will need at least $80k in rennovations to be livable, probably over $100k to pass all city inspections.

Did you use Google Maps Street View to virtually drive around the neighborhood? In our opinion it's a Class C area at best. 

What research have you done on investing in Class C & D properties and the associated tenant challenges - versus Class A or B?

Feel free to contact us for additional assistance:)