Updated over 9 years ago on . Most recent reply
Neighborhoods to Check Out
Hey everyone. I'm a relatively new investor in my first property and I'm considering buying an additional property in Detroit, preferably a multi-unit. I plan on doing a ton of research on each area before deciding to invest out of state, but Detroit is an area that my wife and I have always liked and from what I can tell, some exciting revitalization seems to be happening. The thing that I don't know is how the neighborhoods compare to each other and where in the city we should start looking. I'm fine with C and up neighborhoods, but I'm looking for a place that I'd be okay with staying in while up there as well. (I typically have a rule that if I'm not willing to live there, I don't want to buy there.)
As a comparison, I live in a "sketchy" neighborhood called Little Village in Chicago that most people are wary of, but it's mostly immigrant families and pretty quiet as long as I don't join a gang any time soon. Thanks in advance!
Most Popular Reply
I target Westland/Wayne/Garden City/Redford areas. Safe blue collar/working class areas. Mostly middle class. Safe with little crime. Good numbers can be achieved with rentals. Turn key 70-100k houses can rent for 1000-1300 no problem.