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Updated 9 months ago on . Most recent reply
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Newbie with questions about other newbies experience in Detroit real estate market
I'm seriously considering investing in Detroit within the next 90 days. I've already spoken with a property manager and agents, but I'd like to hear firsthand experiences from other new investors in the Detroit market, especially within the first year or two of their initial investment. Did you encounter any issues with property management, tenants, or agents? Are you cash flowing? Did you buy and renovate? I'm looking for both good and bad experiences to help me decide if I should proceed or stay away as a beginner in Detroit. Any insights would be greatly appreciated.
Most Popular Reply
Quote from @Michael Smythe:
It's all about realistic expectations.
We've dealt with many newbie investors, that despite extensive chats with them to try & set proper expectations, buy a Class C rental - yet expect Class A results.
@Jeff Roth what discount is that investor willing to give on a package sale?
Let me ask my CPA.