I've got a property under contractPurchase price $78K out the door (I have cash to close) Intent: build on the property which already has a functioning well, septic, and needs PGE installed Total buildout on the prope...

Once you've figured that out, take a trip and explore the area a bit and make sure it's an area you're comfortable investing in. 

If the interest rate is still a barrier, you could explore adjusting your deal structure or negotiating with the seller to see if there is any flexibility on the price or terms to make the deal more attractive for buyers.Overall, while the interest rate may make it more challenging, it’s not impossible to work through.

What type of strategies are you exploring?

It’s a market with its own set of challenges, but it’s also packed with opportunities if you understand the nuances.Happy to help if anyone here has questions about Detroit investing or wants to explore what’s possible in the market.Looking forward to continuing our conversation, Mattin!

If your HOA would allow it, I'd definitely explore that since you'd be back in town for a few months out of the year. 

As a fellow Chicagoan, I understand your reasoning for exploring opportunities outside of Illinois.

I am based in New Zealand and own 4 properties here, but keen to explore investing in the US. 

After spending 25 years as a Software Engineering and Product leader, I’m now exploring the world of real estate investing (REI) and looking forward to learning from all of you.My goal is to leverage my current investments and savings to build a real estate portfolio that will eventually allow me to transition away from my current career.

If not, that's the time you explore other options.