When buying Michigan foreclosures as an investment you have to establish your goals. Is your goal renting the investment property for cash flow. Or is your goal to rent the property until the Metro Detroit real estate market turns and then sell the home for profit?
If you are buying Southeastern Michigan Investment properties for appreciation then there are some factors to consider. For long term or short term appreciation you need to look at the city itself.
- Is the neighborhood declining? Or is the neighborhood stable?
- How is the crime rate? Is the neighborhood near a crime ridden area?
- How are the city services? Is the city in relatively good financial condition?
- How is the school system?
If you are looking for Wayne County investment properties then consider all of those factors. People want to buy homes with good school systems. A safe place to raise their family. That is what people want. So you if you want to buy Metro Detroit investment properties chose your city and neighborhood carefully. Try to imagine what the area will be like in years to come.
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