Why Invest in Detroit PLEASE VIEW ZIP CODES

[Account Closed]

Men lie, women lie but number's don't. Check out these stats....Investing in real estate is ALWAYS a risk, but you must weigh the risk vs the reward and clearly the reward is here in Detroit. I have closed many deals and assisted clients from all over the world with their investment choices, and not to be to technical, these simple steps are what you need to make a successful investment

1. Boots on the ground-If you do or don't plan on visiting Detroit, you need to find someone who knows and understands this market, someone with the knowledge of knowing the culture, costs and has a network. Ex( I have several clients investing from India to NYC, If I can cluster their purchases into the right areas, the market will thrive and stabilize and appreciation will occur in the years to come)

2. Make a decision- If you are a seasoned investor you get it, but If you are new you may be a little timid to make the first move. When it's right it's right and If you don't know it's right you have to trust your Realtor that it's right. (Find someone you can trust in the business, Google them and check out their references and credentials) Make sure they are a REAL PERSON

3. Once you get under contract you have deadlines, you should have already ran your comps etc, but if not this time is crucial per your inspection deadline, If everything adds up, have your funds ready and lets close!! ABC. Always. BE. Closing

Disclaimer: These above statements are my professional opinion and not any guarantee.

[Jon W.]

@Michael Barker I agree with you but out of state investors need to be extremely careful. Detroit is a unique area for investing because you have to REALLY know the area down to the block. And then on that block you need to know the houses. There are dynamite investments but each one is surrounded by investor land mines. 

Too many out of area investors think they can buy something that looks good on the outside and is so cheap that it is worth it.  In most cases it is a fools game.