Detroit investor wonderland or wasteland?
Detroit has been all over the new lately. I want to know the truth. Is it a good place to invest? My guest Brent Maxwell gives us the inside story about is going on in Detroit. He gives us all his tip and tactics he is using to regularly get between 10 to 20% ROI (return on investment).
Its a Hot Time to Invest in Detroit
Brent explains why foreign and out of state investors are pouring into Detroit. Brent explains why some properties are returning a 35% ROI. Brent also explains why Detroit is very block-by-block and how you can have a great house on a bad block. Brent also explains.
- Urban Praire
- Urban Tree Farm
- Vacant house problem (90,000)
- Why the block matters so much
Who owns the Vacant Houses?
- Inherited Properties
- Bank Owned
- City of Detroit
- Wayne County
- Michigan Land Bank
- Freddie Mac
- Fannie May
- Speculators (Bulk Investors)
Why You Should Not Buy 1 Property in Detroit… You should Buy 10!
Brent explains about the risk involved in only buying one property in Detroit. Brent explains about the vacancy problem and having a house stripped. Brent explains why it can be better to buy a multiple unit building rather than a single family property.
How Brent Screens his Tenants.
Brent talks about some of his key factors that he is looking for when he is screening for new tenants.
How Detroit’s Bankruptcy is Effecting the City.
Brent explains what is causing the financial problems for the city and how the new mayor is attempting to fix it. Brent talks about how the property taxes are too high and he they appeal and typically get the taxes reduced by 50%.