All Forum Posts by: Stephen Morris

I think Kyle has all the good zip codes except 48203, and 48227. I grew up in 48227 and that has good and bad as does 48203. I manage many properties in these areas for investors. I have many investors that have been hurt by bad purchases and I have some that have bought gems. The abandoned home can be a gold mine or a money pit be careful. If you are buying a renovated home get a professional inspection done before purchase. Don't buy from these companies that put numbers on the rent and then want to sell as is. Those are the worst properties since you will never see any rent just bills for another repair. 

The best strategy here in the D is to buy and hold. There are a bunch of properties that comp at much higher than they actually sell for. We list properties for $40,000.00 with offers in the low 20's. The rent on the houses is $850 - $950. There are not many houses that are super cheap renting for more than $600 though. The really cheap houses are typically in really bad neighborhoods. There are many investors that have been hurt in the D buying what they are told is a great deal only to find they can't get a tenant that will pay rent for more than a month. I own a property management company and manage properties all over Detroit. The best renters pay the highest rent. Remember when buying property to do your home work if someone tells you it will rent for $800 check Zillow for the area and see. There are many people that take the word of the person selling them the property. There are companies in Utah selling property here that have no idea how many dope dealers live on the street. Those are hard houses to get rented. Give me a call about Detroit if you want to know where you will make a good investment or a bad one I have a lot of investors on both sides of coin depending on who re-habbed the house and who sold the house. I can help with both.

I'm a property manager in Detroit and I have several homes in high crime areas. The problem with the high crime areas is that the quality tenants tend not to live there they have choices. There are some instances that you pick up a good tenant that doesn't care about  the area but for the most part qualifying the tenant is a problem. I help investors buy properties that are on the fringe of the high crime areas that quality tenants don't mind renting in. The price of rent drives the tenant pool as well. The higher the rent the smaller the pool but most are more qualified. I try to find the price that will bring a 30% return after 2 years. The return really goes up after that but most of my investors bundle the properties and take a profit. 

Property Management Services in the metro Detroit and downriver areas. We provide professional screening and accounting of all properties we manage. We keep in touch with the owner and ensure the lead time on any property work order is never over 3 days. We provide eviction insurance and screen tenants to ensure quality applicants. PMI Worry Free is part of the largest property management franchise organization in the country. We have over 100,000 properties under management nation wide and support the home owner to the mega investor with quality management and maintenance support. We can evaluate your property and find the extra $100 - $200 per month rent you are looking for. Feel free to contact us at 844-228-1573 or www.propertymanagementinc.com/detroit. We take the worry out of property management.

There are some really good property managers and properties in Michigan and the Detroit area and some less than credible ones out there. I get a lot of business from the less than credible ones in property management. Contact me to learn more

There are hard money lenders out there that can be useful. You will pay for the money but if the cash flow is present it gives you the start you are looking for. Be careful they are expensive. There are a bunch out there to choose from

I'm a property manager and broker here in Detroit. There are some really great opportunity's out there and some really bad properties out there. I can help you out with any areas you are looking in I manage over 100 properties all over Detroit.