Are There Still Bad Neighborhoods Left in Detroit? My Theory and Post Eviction House Tour

Would you buy a house on this street? What if this street is about to become just like the street behind it? What if you knew that every rotten-looking house on this street will either be renovated or torn down? Is it still a good street? I think so because over the last few years we have witnessed "bad neighborhoods" become good neighborhoods. NOW is the time to invest in a Detroit rental property. The houses on the more stabilized streets are costing so much more money now, it only makes sense that the houses on the dicey streets are about to appreciate as well. We bought this house a few months ago.

We knew we had occupants who hadn't paid a dime of rent to their senior citizen out-of-state owner for over two years. The pandemic really hurt the previous owner. She was left with no choice but to sell it before she completely lost it. With no rent for two years, how are the mom and pop landlords supposed to pay the taxes and insurance and upkeep? They cannot!

I'm always startled at how people live. This house appears to have been hit by the Detroit flood of 2021. The people just moved out and they were living with sewage in their basements, inhaling it through their whole house. The bathtub was so disgusting, I'm not sure how anyone could have bathed in there. It took us 4 months to get to the point of a bailiff removing them. They removed themselves before the bailiff got there though and they kindly left us some food products.

When people leave perfectly good unexpired food, it makes me wonder what is going on in their heads. They lived for over two years rent free so maybe they have money to blow. Even with money to blow, I would NEVER leave good food. It all just screams irresponsible to me. I thank my grandma for pounding into me, "Monique! Waste not, want not!"

We are considering renovating this one and listing it publically for sale for a homeowner. We can make more money that way. If we sell it with a tenant paying $1,100/month rent, I can sell it for $76,500 to an investor. But I believe I can get $100,000-$115,000 based on comparables in the area if I sell it to a homeowner.

If you want to buy an investment property, I have some inventory left. You can join my exclusive buyers list, email me, or look on my website to see what we have now: www.GreatDayPropertyManagement.com/for-sale.

Exclusive Buyer List: www.GreatDayPropertyManagement.com/exclusive-buyer-list We only sell a couple of houses a month. This is step 1 to join our waiting list.