Macomb County Michigan

[Brody Veilleux]

Does anyone know of any hot markets in Macomb County, Michigan right now? Job growth, population growth, developments, home value growth, etc?

[Greg Scott]

Brody:

Hello from a fellow Michigander.

Prior posts and your profile indicate you are new to RE investing.  I'm hoping to help.

Your question is the kind of question a stock investor asks.  If you live in Macomb County, you already know about as much as you need to know to pick good real estate locations.

When buying a stock, the investor has no control over how well it does and we all pay the same price, so we look for stocks with hot growth prospects.  That is all you can do. In real estate much more money is made by finding great deals and making great deals.

To stick with stocks for a minute, would you be as focused on finding the "hot" location if you could find a way to buy stocks at a 20% discount?  How cool would it be with a little bit of searching and probing if you could buy Microsoft or Chase at 80 cents on the dollar?  We can do that in real estate.

How focused would you be on finding the "hot" location if, with your own efforts, you could make your stock go up in value.  Assume that you could meet with the CEO and give him some direction or write articles about how great the stock was and cause its value to go up.  How great would it be if you KNEW you could make the value of the stock go up?  We can do that in real estate.

So, back to your question.  There are a handful of areas worth avoiding in Macomb County.  Avoid rough parts of town.  Also, it is probably better to avoid the rural areas.  You've now elminted about half of Macomb County.  Everything else is fair game.  Buy where you find the great deals.  Buy the deals that you can improve to raise value.

[Brody Veilleux]

Quote from @Greg Scott:

Brody:

Hello from a fellow Michigander.

Prior posts and your profile indicate you are new to RE investing.  I'm hoping to help.

Your question is the kind of question a stock investor asks.  If you live in Macomb County, you already know about as much as you need to know to pick good real estate locations.

When buying a stock, the investor has no control over how well it does and we all pay the same price, so we look for stocks with hot growth prospects.  That is all you can do. In real estate much more money is made by finding great deals and making great deals.

To stick with stocks for a minute, would you be as focused on finding the "hot" location if you could find a way to buy stocks at a 20% discount?  How cool would it be with a little bit of searching and probing if you could buy Microsoft or Chase at 80 cents on the dollar?  We can do that in real estate.

How focused would you be on finding the "hot" location if, with your own efforts, you could make your stock go up in value.  Assume that you could meet with the CEO and give him some direction or write articles about how great the stock was and cause its value to go up.  How great would it be if you KNEW you could make the value of the stock go up?  We can do that in real estate.

So, back to your question.  There are a handful of areas worth avoiding in Macomb County.  Avoid rough parts of town.  Also, it is probably better to avoid the rural areas.  You've now elminted about half of Macomb County.  Everything else is fair game.  Buy where you find the great deals.  Buy the deals that you can improve to raise value.

That is very well said, thank you! I’m stuck in the analysis paralysis at the moment and beginning to overthink things. I’ll prioritize continuing my search for distressed and discounted properties, avoiding those areas you mentioned! Thanks again.

[Drew Sygit]

@Brody Veilleux what balance are you looking for between Class A/B/C/D properties and ROI?

Basically, the higher the ROI you want, the more riskier properties you'll be forced to target.