Home Buying in Detroit>Question Details

Giggs, Home Buyer in Atlanta, GA

Is Detroit a good place to invest in property now as compared to rochester NY?

Asked by Giggs, Atlanta, GA Thu Sep 6, 2012

Hi
Planning to invest in a home for rental passive income? Could someone advise. Budget is around 20k to 30k and need a good tenant in place .. probably at a good location and house should be in good shape.

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Answers

8
Detroit is a great place to invest. There are still many good people living in the city who need housing, and with prices at record lows, it makes sense to buy turn-key properties in Detroit. Some of the best deals can be found through real estate auction websites (like http://realtybargain.net/page/buy-turn-key-properties-in-det… ), which offer $1 starting bid auctions.
0 votes Thank Flag Link Sat Dec 28, 2013
YES, and I have exactly what you are looking for. Contact me quickly at kevin@discountdetroitus.com or call 313-467-4163
0 votes Thank Flag Link Sat Sep 29, 2012
In my opinion, Detroit is still a bit risky. I can get you into a decent rental property in South Florida at that price range.
0 votes Thank Flag Link Sat Sep 29, 2012
yeah . pls send me your email address. ur website does not have any details at all on how to contact u.
Flag Sat Sep 29, 2012
If you're an out of state or overseas buyer looking in Detroit take a look at the link below.
0 votes Thank Flag Link Fri Sep 7, 2012
Hello,

I deal with a lot of US and foreign investors who have flocked to Detroit to pick up homes that are returning double digit percentages as income. Depending on how you want to approach the purchase of these homes, will determine how quickly they can give you a return on your money.

What I mean by that is; you can buy many homes in Detroit starting from $2,500 or less and do the rehab yourself. Or I can show you an inventory of turn key properties that all-ready have tenants in them that are giving you an immediate income. I just had one investor buy about 300 homes in Detroit that he is going to rehab and put tenants in them and then sell to other investors.

If you email me I can send you a sample of turn-key homes that I have documented, with all of the important information on them. The turn key homes include homes that have section 8 tenants as well as regular lease tenants. I can refer you to a property management company that will make the purchase seamless.

The bottom line is I can provide you with many options on how you can achieve your goals, whether it be ground-up or turn-key. Send me an email for the sample file and you can view all of the information on your screen.

Thank you,

HAIG
Elias Realty
(248) 379-6547
realtorhaig@aol.com
0 votes Thank Flag Link Fri Sep 7, 2012
haig will u forward TO me list of properties u have. from 100 to 10000 dollars. with section 8 tenants if possible thank u. pat.
Flag Sat Jul 6, 2013
Hello Mr. Giggs.

I can't speak on Rochester New York. The only thing I know about New York is it's hell flying in and out of there and property I'm told is very expensive. Detroit I know. I'm a born and raised, live and work, homegrown business owner, product of the City.

Detroit is a excellent place to invest in. It can also be a nightmare for those who swim these waters alone.

There is a literal "gold rush" happening right now in Detroit. Investors from all over the world are here purchasing property. The abundance of property at such low price points and the fact that Detroit is a rent heavy city make this a perfect storm for investors looking for cashflowing real estate assets.

It is also a city, not unlike a lot of urban areas in the country, that has good and bad neighborhoods mixed together. We like to call it "block by block", meaning you better have someone who not only knows the city, but also knows what he/she is doing when it comes to choosing a property that will become a preforming asset and not a liability.

There are investors here that are selling fully rehabbed homes with good tenants and property management in place within your budget. There are also a lot of novice's swimming around like sharks waiting for anyone with cash to show up. Take care that you are dealing with someone who has experience, knows what he/she is doing and you can trust to do things right the first time.

I think your pending decision to look into Detroit is a very good one and I would be delighted to assist you in any way I can. Please don't hesitate to call/email me should you have any more questions.

To your success, in business and life!

Kevin Flowers
Discount Detroit
http://www.discountdetroitus.com/
http://www.facebook.com/discountdetroit
O-734-743-1186
F-313-368-0777
C-313-467-4163
0 votes Thank Flag Link Thu Sep 6, 2012
Detroit is a good place to invest, at least certain areas anyway. Many of my clients are investors whom I do home inspections for. My name is Inspector Darrul Stocks, certified home inspector and owner of Stocks Home Inspection located in Detroit, Mi. If you need a property inspected please feel free to contact me at the following:

Stocks Home Inspection Inc
Darrul Stocks
(313) 377-6967
darrul@stockshomeinspection.com
http://www.stockshomeinspection.com
0 votes Thank Flag Link Thu Sep 6, 2012
Detroit has some very good zi[p codes to invest in. I work with a couple of sellers who rehab the properties and some can come already occupied.

If your interested please contact me.
Bob Schweiss
Remerica HometownOne
(313)779-6188
0 votes Thank Flag Link Thu Sep 6, 2012
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