The American dream of owning a home is dead. Or is it? 🤔 In Detroit, we’re in one of the few cities where that thankfully isn’t the case yet. While people in other states are giving up on homeownership entirely, the math here in the Motor City still works in your favor. Let’s look at […]
For a brief moment, mortgage rates nationally dipped below 6%. Buyers celebrated, and some investors wondered if the rental market was about to cool down. Then, the market shifted again. Rates quickly bounced back up to 6.14%. Economic uncertainty and global events have reintroduced a heavy dose of volatility into the housing market. Experts now […]
The latest headlines about Detroit’s rental market have got investors spooked. You might have seen reports about a “looming rental market meltdown” or rising foreclosure rates among Detroit landlords. And yeah, it’s happening. Foreclosures are ticking up. But here’s the thing no one tells you: It’s not happening to everyone. We’ve been managing properties in […]
We know a lot of real estate investors have their eye on Metro Detroit. Famous for its <$100k deals, prices here have been rising for the last decade–up over 100% since 2017. Rents have risen by over 50% in that period, too, giving rental investors great opportunities for both equity and rent growth. But if […]
Asymmetric information is when one party in a deal knows a lot more than the other. And that knowledge gap can be a huge factor in the Metro Detroit real estate market. Imagine you’re an out-of-state investor buying from a local homeowner. The owner knows every little issue that snuck by your inspector, and exactly […]
Detroit is building again. And this time, it’s happening in a neighborhood that frankly hasn’t seen a lot of love in recent years. Nortown is getting a $16 million development project aimed at providing affordable housing for disabled veterans and people with disabilities. This is amazing news for the people who’ve waited a long time […]
Big news for Metro Detroit: a major development is coming to the area around the Detroit Metropolitan Wayne County Airport (DTW). You may have seen the headlines in Fox 2 Detroit about a landowner selling 28 parcels of land near the airport to make way for future upgrades. When big infrastructure projects like this get […]
When a landmark property hits the market, real estate investors take notice. When it hits the market at a potential $10 million loss, we really take notice. That’s exactly what’s happening with the Alden Towers, a historic 389-unit apartment building on Detroit’s east riverfront. As reported by Crain’s Detroit, the property is listed for $25 […]
You found it! The perfect rental. And you can’t believe your luck: It’s in the perfect area, so spacious, and the rent is a steal. Maybe $200 less than everything else you’ve seen in the neighborhood. You message the landlord. They’re “super eager to get you moved in ASAP!” They just need a deposit sent […]
Michigan is facing a significant housing shortage. But how bad is it really? According to real estate expert Michael Perna, who recently appeared on Fox2Detroit, the numbers are stark. He says that data from the Census Bureau and the Southeast Michigan Council of Governments shows “we’re short 50,000 to 60,000 houses right now today in […]