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Updated 9 months ago on . Most recent reply

User Stats

27
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10
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Hamidou Keita
10
Votes |
27
Posts

Newbie with questions about other newbies experience in Detroit real estate market

Hamidou Keita
Posted

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.

  • Hamidou Keita
  • Most Popular Reply

    User Stats

    187
    Posts
    122
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    Jeff Roth
    • Real Estate Consultant
    • Ann Arbor, MI
    122
    Votes |
    187
    Posts
    Jeff Roth
    • Real Estate Consultant
    • Ann Arbor, MI
    Replied
    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.

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