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All Forum Posts by: Phillip Smith

Phillip Smith has started 5 posts and replied 22 times.

Post: Choosing rental property in Detroit

Phillip SmithPosted
  • Rental Property Investor
  • Detroit, MI
  • Posts 22
  • Votes 12

Hi, my name is Phil. I recently joined bigger pockets & am new to real estate investing. I live in Detroit & would like to here from any investors who live in or have purchase real estate in Detroit.

My current plan is to start by purchasing a duplex, and renting both units to Section 8 approved renters...for the following reasons:

• One physical location

• One tax, water, insurance bill

• Two monthly rents

• Majority of rental payment(s) are guaranteed by the state.

QUESTIONS

1) What are the pros/cons of renting a duplex in Detroit vs. a single unit home?

2) What are the pros/cons of renting to Section 8 tenants in Detroit?

3) Where should I start my search for property?

4) (Location specific question) What’s a reasonable budget for a duplex on the east side of Detroit?

Post: Buying rental property in Detroit

Phillip SmithPosted
  • Rental Property Investor
  • Detroit, MI
  • Posts 22
  • Votes 12

Anyone buying rental property in Detroit, during the pandemic?