Comments on: Investing in Real Estate in Detroit: Is Detroit the New Wild West? http://internationalpropertyinvestment.com/investing-in-real-estate-in-detroit-is-detroit-the-new-wild-west Property Investment around the World - Buying Investment Properties Fri, 14 Oct 2011 16:38:56 +0000 hourly 1 By: Mark Knowles http://internationalpropertyinvestment.com/investing-in-real-estate-in-detroit-is-detroit-the-new-wild-west#comment-26879 Mark Knowles Wed, 22 Jul 2009 09:30:12 +0000 http://internationalpropertyinvestment.com/?p=2108#comment-26879 Hmm. So even though the market has collapsed, millions of people are so far in debt they will never get out from under and the government Inc now owns all the real estate - you still believe. LOL Wanna buy some cheap real estate? I have some good "investments" for you...............:lol: Hmm. So even though the market has collapsed, millions of people are so far in debt they will never get out from under and the government Inc now owns all the real estate – you still believe. LOL Wanna buy some cheap real estate? I have some good “investments” for you……………:lol:

]]> By: Anthony http://internationalpropertyinvestment.com/investing-in-real-estate-in-detroit-is-detroit-the-new-wild-west#comment-26767 Anthony Sat, 18 Jul 2009 03:41:06 +0000 http://internationalpropertyinvestment.com/?p=2108#comment-26767 Well written article, however I still believe in the "American Dream" and that begins with home ownership. Thank God for investors with talent to create and innovate.... Well written article, however I still believe in the “American Dream” and that begins with home ownership. Thank God for investors with talent to create and innovate….

]]> By: Detroit Foreclosures http://internationalpropertyinvestment.com/investing-in-real-estate-in-detroit-is-detroit-the-new-wild-west#comment-24668 Detroit Foreclosures Tue, 02 Jun 2009 07:51:37 +0000 http://internationalpropertyinvestment.com/?p=2108#comment-24668 Thanks for the informative post. In 2008 nearly 56,000 bank repossessions were reported in Michigan, according to statistics reported by a foreclosure tracking website. Thanks for the informative post. In 2008 nearly 56,000 bank repossessions were reported in Michigan, according to statistics reported by a foreclosure tracking website.

]]> By: pgrundy http://internationalpropertyinvestment.com/investing-in-real-estate-in-detroit-is-detroit-the-new-wild-west#comment-24325 pgrundy Tue, 26 May 2009 20:26:22 +0000 http://internationalpropertyinvestment.com/?p=2108#comment-24325 Thank for that good advice Jared. It's so true, Detroit is a complicated place, and there's no substitute for a professional who really understands the area. A $1,000 house can be an albatross that will suck money forever, whereas some suburban areas are still worth getting into. Great advice, thanks. Thank for that good advice Jared. It’s so true, Detroit is a complicated place, and there’s no substitute for a professional who really understands the area. A $1,000 house can be an albatross that will suck money forever, whereas some suburban areas are still worth getting into. Great advice, thanks.

]]> By: Jared Pomranky http://internationalpropertyinvestment.com/investing-in-real-estate-in-detroit-is-detroit-the-new-wild-west#comment-24318 Jared Pomranky Tue, 26 May 2009 17:26:25 +0000 http://internationalpropertyinvestment.com/?p=2108#comment-24318 You are absolutely correct about $1,000 homes. We don't buy houses in this price range and we don't suggest anyone to buy them in this range. There are a lot of outside investors coming to Detroit for cash flow properties and as long as they have good systems, on the ground contacts, and a knowledge of the area, they can purchase great homes for a long term investment. Unfortunately many out of state investors don't have these contacts. Detroit's good areas like Northwest Detroit are in high demand rent wise, have low crime rates, high rates of ownership, and a large number of investment money coming in. This makes for very stable investments for the long term investor looking for cash flow and not a quick flip. Do your homework on anyone you work with. Ask for references! All areas in Detroit and investors in Detroit are not created equal. Too many people paint Detroit with a broad brush (good or bad), which is absolutely not the reality. There are really good areas and there are really bad areas. <abbr><em>Jared Pomrankys last blog post..<a href="http://feedproxy.google.com/~r/detroit-real-estate-investing/~3/r1tLcH2oNpM/" rel="nofollow">New City of Detroit Vacant Property Ordinance</a></abbr></em> You are absolutely correct about $1,000 homes. We don’t buy houses in this price range and we don’t suggest anyone to buy them in this range. There are a lot of outside investors coming to Detroit for cash flow properties and as long as they have good systems, on the ground contacts, and a knowledge of the area, they can purchase great homes for a long term investment. Unfortunately many out of state investors don’t have these contacts.

Detroit’s good areas like Northwest Detroit are in high demand rent wise, have low crime rates, high rates of ownership, and a large number of investment money coming in. This makes for very stable investments for the long term investor looking for cash flow and not a quick flip.

Do your homework on anyone you work with. Ask for references! All areas in Detroit and investors in Detroit are not created equal. Too many people paint Detroit with a broad brush (good or bad), which is absolutely not the reality. There are really good areas and there are really bad areas.

Jared Pomrankys last blog post..New City of Detroit Vacant Property Ordinance

]]> By: Bo http://internationalpropertyinvestment.com/investing-in-real-estate-in-detroit-is-detroit-the-new-wild-west#comment-21109 Bo Thu, 02 Apr 2009 09:05:31 +0000 http://internationalpropertyinvestment.com/?p=2108#comment-21109 A sobering write up. Which suburbs would still be OK to buy in and where would one turn to get information and listings on foreclosed homes in those areas? A sobering write up. Which suburbs would still be OK to buy in and where would one turn to get information and listings on foreclosed homes in those areas?

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