Is detroit a good place to invest in real estate

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Bring from NY, I am thinking of hiring a property management company to oversee the operations of my investment. Good idea??? Only if you know someone in Detroit who will tell you what is a good place to buy a house for investment purposes. I think it’s quite a good idea. Thing is, you have to understand the Detroit and its suburbs and where is a good place to buy and where is not.

Why invest in Detroit real estate?

Or the worst. For many Detroit homes, the first auction price is just the amount of liens and taxes owed on the house. Low-income homeowners are often eligible for tax exemptions like the Primary Resident Exemption and the Poverty Exemption , but to get them you have to do a lot of paperwork and know the deadlines, which not everyone knows about. It’s a situation known as asymmetric information — wealthier or more educated residents of other cities can hear about and purchase these foreclosed homes easier than the owners can learn how to actually keep them. This isn’t just a problem in Detroit, it’s a problem everywhere. And the city of Detroit is working on programs and materials to better educate homeowners and prevent foreclosure.

People Are Making Big Money Kicking Detroit Residents Out Of Their Homes (HBO)

If you are looking to invest in real estate, here is where to do it.

This stability translates into a more reliable and financially capable tenant pool. Another indicator that now is a good time to get a great bargain in Detroit is the current increase in foreclosures, countering the national downward trend. Finding good investment opportunities, and those willing to take them on, did. Most homes for sale in Detroit stay on the market for 68 days and receive 1 offer. We always recommend to do your own research and iz help of a real estate investment counselor. Again, just as with investment in any market, the key is ensuring that you are looking for affordable properties in the right neighborhoods that are in generally good repair. Owing to rapid growth in the demographics of Detroit in recent years, its downtown is also seeing significant development and has improved the feal of life for the residents of this city in Michigan. A new report from RentCafe. A new Jeep s on the Eastside — a conversion of the Mack Avenue Engine Plant — is projected to add reaal, new jobs to the city. Chat Now! If is detroit a good place to invest in real estate invest wisely in Detroit rental real estate, you could secure your future.