Lesley Keith, Home Buyer in England UK

I am looking to fix up a run down property to then let it out for some income. Is these feasible in Detroit?

Asked by Lesley Keith, England UK Tue Feb 24, 2009

I live in the UK & your properties are far cheaper than here. I believe the rental potential for quality properties is good & would like to buy one if the price were right. Is it possible to do this, is the rental market buoyant for good properties in respectable areas? If so which areas would you recommend?
Lesley Keith

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1 vote Thank Flag Link Fri May 13, 2011
Hi, I'm a former Detroiter and visit occasionally. You are taking a BIG chance if you're going to be an absentee landlord. You should put your property in the hands of a management company that has a good reputation and will inspect the property from time to time. You may be better off renting a condo than a house. That way the property will be kept up and the condo board will report unruly tenants.
1 vote Thank Flag Link Fri Jan 1, 2010
This is a very good thing. Iam a real estate investor in Detroit. I am fixing up homes in the city. We need responsible landlord here. If you would like to discuss further contact me at info@onlybrickhomes.com.


Thank You
0 votes Thank Flag Link Wed Sep 7, 2011
Detroit is a great place to invest, provided you have the right help to insure you have chosen the best properties in the best areas. As with any state or country Location, Location, Location is the key. I am an agent that has the tools and the network to insure your investments are sound ones. I live in Detroit and invest in Detroit. My email is helaine.hurston@gmail.com or 313-213-9851. I can offer assistance with your purchase and managment. Email me your concerns, needs, and goals and I can send a stragety that I would suggest to follow.
0 votes Thank Flag Link Wed Dec 30, 2009
NOOOO, i am from the suburbs of Detroit and I would NEVER consider this an option. Buy somewhere else or in a suburb with a foreclosure.
0 votes Thank Flag Link Sat Oct 24, 2009
So are you the type of foreign guy absentee landlord who buys up our houses and then rents them to any old scumbag who wrecks up the neighborhood?
0 votes Thank Flag Link Sat Oct 24, 2009
Lesley-
I have had an influx of investors such as yourself looking for similar such investments in Michigan. You do have to be strategic with your search because even though a house may be cheap, does not mean that it will be easily rentable. I would very much like to go over your specific interests and give you the information that may help you with your search.
Liz Tintinalli
313-617-2699
Real Estate One
Web Reference: http://www.lizindetroit.com
0 votes Thank Flag Link Sat Feb 28, 2009
I am current working with foregin investor from China and Canada. Please contact me directly so that I can better understand your requirement. Thanks

Mike
mike.so@kw.com
248-672-6792
0 votes Thank Flag Link Sat Feb 28, 2009
Lesley-
Being an investor in Detroit let alone Michigan can prove to be quite fruitful right now due to the low prices for foreclosures and HUD properties, but you definitely need to be VERY SELECTIVE in where you choose to purchase an investment property. I would like to talk with you further to get more of an idea of what you want and expect from your investment. If you are interested. Please email me directly at:
Elizabeth Tintinalli
Cell: 313-617-2699
Email: lt@ lizindetroit.com
Web Reference: http://www.lizindetroit.com
0 votes Thank Flag Link Tue Feb 24, 2009
Lesley, You may like to use these sites, if you are not aware of them to look at rental trends and rent comparables in Detroit and other markets...http://www.zilpy.com/
http://www.rentometer.com/

I've also heard rumours of a "mouthy fee" ....http://www.trulia.com/voices/Foreclosure/where_can_i_own_a_h…
Hidden costs will get a person every time.....
Good luck, Dunes
0 votes Thank Flag Link Tue Feb 24, 2009
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