I am an investor in the Warrendale area. I buy, sell rent and rehab homes. The area is very diverse in the style of homes as well as the people living there. Rent in the area can go from $700-$900 a month depending on the size and amenities of the home. I currently have a home that I just rehabbed and am looking to sell. I would be happy to share some pictures and a list of the updates if you are interested in a comparison to what you are looking to buy. Craig

Not a good opportunity. The very best homes might go for $40,000. Right now on Indiana there are 6 pending sales and the highest asking price is $13,900. Also, there have been 17 sales so far this year on Indiana and 15 of them are under $15,000 and most are under $10,000. The rent estimate is high too. $500 a month is more realistic.

There are a lot of great deals in Detroit for sure. Make sure you have an honest representative guiding you.

you are getting your leg lifted !!!

Steve ... I did a little research. I'm not sure I would consider it a good deal. If you're not working with an agent, shoot me an email.

Best of luck,
Lisa Bender

Hi Steve,
I am familiar with the area however I can't answer the question without knowing if your working with an agent as it would be unethical for me to interfere. Let me know if I can help.

Steve,

The help of a good realtor will pay many dividends in this transaction. It sounds like you also need to do a good deal of market research about rents in the area. It is my experience that most people overestimate revenue and underestimate expenses when buying a rental property and get themselves in trouble. A good agent (who is experienced in investment proeprties, meaning that have or do own them) will be able to help you with a complete analysis of the property. I hope that helps.

Cameron Piper