All Forum Posts by: Nader Shariff

It depends on what you are looking to do. 

For me - my favorite location by far at the moment is Detroit, Michigan. Low entry price points and strong returns. 

As long as you have a proper team on the ground of the market you are looking to purchase property in, then I would strongly suggest you invest out of state. Out of state investing does work, as long as you have the right team in place. 

That being said - I would urge you to look into as many different markets as possible and talk to as many people in those markets as possible. 

If you are open to market suggestions - I would suggest looking into Detroit, Michigan. That is the market I currently invest in and would be happy to share my experiences and thoughts with you. 

Happy to connect and good luck in your search !

Originally from NY - specifically NYC - as well - the issue I ran across was finding deals in NYC that offered solid returns. 

I ended up doing a lot of research on which markets would offer me the best returns along with a city that would potentially grow over time. I ended up choosing Detroit, MI as my marketplace due to the fact that I was able to find properties that offered strong returns in areas that I figured would appreciate over time. 

I am happy to chat about my experiences with you about Detroit or just out of state investing in general. 

Out of the three areas - I would suggest Cleveland Ohio. 

However, if you are open to other markets - I would suggest looking into Detroit, Michigan. 

I have had a lot of success in Detroit, MI and the market offers - strong returns, low entry price points and a city full of opportunities for growth. 

Yes - you absolutely should have an Owners Title Insurance Policy. 

Generally speaking at least in Michigan you the buyer are providing the Lenders Title Insurance Policy to the Lender, meaning you are paying the Settlement Agency for that policy, the Sellers of the home you are purchasing should be providing/paying for the Owners Title Insurance Policy that insures you as the Buyer.
I strongly asking for a copy of the Owners Title Commitment to review all the exceptions and exclusions. 

You do not need to purchase another policy after the mortgage is paid off. The Owners Policy is good throughout the time you own the home. When you sell, you will provide the new buyers with an Owners Policy insuring them. 

Hey Danielle 

I am also originally from NYC and started my RE career off there !

When I began heavily investing into real estate, I ended up picking Detroit, MI as one of my main markets to focus on due to the lower entry price points, and higher returns.

Not sure if you ever looked into Detroit , but I would be happy to share my experiences with you.

Happy to connect !

It really depends on what you are looking to do. 

However right now my team and I are focusing on Detroit, Michigan for the simple reasons of - low entry price point, strong returns, and the city has a lot of room for growth. There has been a lot of change in Detroit since I've started and it seems as though those changes will hopefully continue.

So, I'll throw my vote in for Detroit, Michigan if you are looking for buy and holds. 

Throwing another vote in here for Detroit, Michigan 

With your budget and the right team, you could find a solid property that generates solid returns. 

Based off my experience and my success in Detroit- 

Detroit Michigan is one of the best cities to invest in, HOWEVER, it is imperative that you have the right team on place and a good understanding of the marketplace. 

It's true that there are a lot of out of state/country investors that get taken advantage of due to the lack of knowledge and team guiding them. The reality is Detroit is a block by block market filled with values that scatter all over the place along with problems that arise as they would in any other marketplace.

I think the issue is people that sell your properties in Detroit glorify the returns and fail to explain the risks associated with investing in such markets along with the actual values of these homes. I think if most investors understood the whole picture before buying in the city - it would avoid a lot of headaches for said investors. 

For the scams, and misrepresentation - it is true, it happens, but it also happens in a lot of other cities, and it really comes down to you doing your due diligence in who you work with. 

Regardless, do not let any of this discourage you - if you find the right team - Detroit can be a great place to start and grow a portfolio that generates solid returns.

I am going to throw a vote in for Detroit Michigan. Returns are solid and I believe there is a still a lot of room for growth in Detroit.