Where do I begin?
I might say that all of Detroit is an opportunity zone. At least I see it that way.
A lot of people want to get in on the real estate investing game, but are hesitant to do so because they don’t know what makes a good investment.
In this article featuring 15 North American cities where real estate investment is hot, I noticed a huge omission. Detroit didn’t make the list.
July 4th is America’s celebration of Independence, and Independence Day is a great holiday for real estate.
What any thriving city needs is young energy, young blood, young people walking its streets and inhabiting its rental properties.
One could argue that ultimately, the market determines what happens in housing prices, which neighborhoods will be developed and which ones won’t.
Recently, we bid on an auction house in the Jefferson Chalmers neighborhood. We were committed to a bid of $6,700 for the property, but it was a veritable feeding frenzy until the property finally sold for $67,000.
A city doesn’t rebuild until the locals buy in. At least that’s the theory.
It’s been quite a journey for Detroit real estate since the beginning of the 21st century.