Now I consider myself a fairly analytical kind of guy.
I’ll admit, sometimes I go overboard with researching stuff.
But before I decided to rejoin my wife in the real estate business, I did some analysis on the Detroit market.
Why? Because I wanted to make sure that our strategy was based on a foundation of real data and expert projections.
Surprisingly, I found that Detroit is one of the best real estate markets to invest in right now.
So today, I’m going to share with you what I found out that lead me to believe that Detroit is one of the best real estate markets to invest in.
“Doom and Gloom” Mindset
Now most people will tell you that now is a terrible time to be involved with real estate in Detroit.
That’s why “most” people aren’t successful.
Their perception is off.
They don’t understand that more people became millionaires during the Great Depression than any other time in American history.
OK, you’re right. That’s another topic for another day.
Let’s move on.
Why Invest in Detroit?
Any fairly savvy investor knows that real estate markets are cyclical in nature.
This market will bounce back, one way or another.
Regardless of what your strategy is with your investing, there are properties being sold here in Detroit at up to 75 percent off of what they were sold for not even 10 years ago.
If you’re interested in buying and holding in Detroit, now is the time.
Great Returns on Investment
A lot of our clients are seeing anywhere from 17 to 20 percent rental yields.
…Not to mention the money they’re going to make down the line when their properties appreciate.
As I’ve mentioned in a previous post, the average price of a single family residence in Detroit is predicted to about 40 percent by (or during) the year 2014.
Detroit Real Estate > Stock Market?
I can’t stress enough the importance of doing your homework and “buying right” when you buy in Detroit, or anywhere, for that matter.
If you buy right, chances are that you will yield more on a yearly basis with a single family rental in Detroit, than you’d make in the stock market.
There’s so much buying activity on the low end in Detroit, it’ll make your head spin.
The yields are so good, that investors from Cali to Japan, to even the UK are getting in on the action here in Detroit.
Hey, I gotta get back to work, but I’ll pick up where I left off on this soon.
When part two is ready, it’ll be available here.
To your success,
By the way, do you agree with me that Detroit is a great market to invest in, or no?
Leave a comment below!
Looking to buy or sell your property in Detroit? Give us a call at the number at the number at the top of the screen, or shoot us a message using our Contact Us form.