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Updated over 7 years ago on . Most recent reply
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Best areas for small single/multi-family brrrr's in Detroit area
Hi BiggerPockets, I'm looking to purchase my first Brrrr in the Detroit metro area and I'm trying to narrow down the best areas to purchase in. I have $100-120k to work with through cash and a private lender, but I'm trying to find the best area to make some good rent. People have suggested Royal Oak and areas around it however I've struggled to find properties in my price range in that area. Any thoughts? Thanks!
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Hi Jordan,
I'm not an expert by no means, but I purchased my first Michigan rental property in Hazel Park. I purchased it for 60k put a little over 2K into it and it is rented for $995/mo. I live in CA and have a family member managing the property for me. I'm happy with everything so far. I'm now looking in Madison Heights and Oak Park. I haven't found anything in Royal Oak that brings in the same return, but I'm sure the clientele is better.