Bill,

I suggest speaking with a financial planner before purchasing one home for cash. They may be able to show you how to leverage your cash to purchase more than one property. I agree with Maureen, the longer you keep the property, the better chance you will have of getting a return on your investment. I doubt the market will change much over then next year.

I cannot suggest any one area because home values range from the low 100's to millions within Oakland County. A Buyer's Agent would be able to sit down with you and run recent sales for several areas so you can see which are maintaining their values. This would require a Buyer's Agency Agreement. Sample forms are available on the site below.

Are you planning on holding? If yes, how long? You could find "deals" almost anywhere in Oakland County. It will depend on how much you want to spend and how long you want to hold it.

I invest in real estate too and I tend to make my investments close to me. That way I can check up on the property and it is just easier to know exactly what is going on. We also manage some investment properties, including some for international investors.

I don't think there is one answer of the "golden" Oakland County community that will give you the best ROI. It comes down to the specific house. I can think of a couple of deals off of the top of my head. Your desire to fix things up is also a factor to consider.

It is a great time to invest and I am glad you are doing it right here. We recently had investors fly in from Lithuania after reading that Metro Detroit real estate is a great investment in a Russian business publication!

Let us know if we can be of help.

There has never been a better time to be a buyer as long as I can remember in my 23 years as a realtor. I think it depends on the amount you have to spend. As a licensed realtor, I can not "steer" any one to a particular area, however Birmingham seems to have kept its value and has always been a favorite of many buyers. There are still some mortgage incentives out thee as far as down payment assistance,etc. But these will be going away soon. As a cash buyer, you may an advantage. Make sure you have the home inspecdted by a qualified inspector.

Try staying in Royal Oak or Ferndale in Oakland County for sure I have homes you might want to look at. Let me know if you need some help.