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Updated over 1 year ago on . Most recent reply

Obstacles in Detroit?
I was wondering what obstacles rehabbers have in Detroit, I’ve heard permitting can be tough. What are some things to look out for when looking at distressed houses?
Most Popular Reply

Travis, I agree with you that there are neighborhoods with tremendous potential for appreciation and like you I own property in some of those areas. But I tend to think that out of state investors are lured here by our cheaper (in the core neighborhood) housing stock. I am always coaching investors on how not to over invest in properties expecting appreciation to cover the gap. The Detroit Land Bank Authority thinks like that and so far they haven't changed the value of many neighborhoods by pouring money into neighborhoods where there is not a real demand for that kind of Class A or B rental.
- Leroy K. Williams