Investing in Detroit No Matter Where You're From
invite response
2013 Jan 10, 3:18am 15,006 views 53 comments
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I've thought about buying properties in Detroit. Even discussed with a buddy of mine who was from Grosse Pointe. We both decided no thanks. Spent 4 years of my life in school in Ann Arbor and went into D Town for Wings and Tigers games, Coney Island, and Windsor. Ann Arbor is a great town, but has some of the most gloomy and depressing weather anywhere. I enjoyed Minneapolis 10x Michigan. No one wants to relocate to a place with bad weather and even worse job prospects. While I enjoyed college, and love the school, Detroit is last on my list of places I would relocate. Sorry...
This is a joke, right? With temperatures in Minnesota regularly in the single digits? And the car companies on a hiring spree? Detroit is no different from Chicago, Los Angeles, New York, and any other city with a bad part of town - people who can afford it live in the suburbs, and as suburbs go, Detroit's are better than most.
Patrick
2013 Jan 16, 4:19am
Detroit is no different from Chicago, Los Angeles, New York, and any other city with a bad part of town - people who can afford it live in the suburbs, and as suburbs go, Detroit's are better than most.
Detroit is very different from those other cities, because the bad part of Detroit is Detroit.
Sure, there are nice, leafy green safe suburbs outside of Detroit proper. But the city itself is pretty much dead.
leo707
2013 Jan 16, 4:34am
And um, the "scary" people here are often misguided youth who if they had jobs, would not be pulling these stupid stunts.
It was a 64 year old man who pulled that scary stunt. I would hate to see what the "misguided youth" are up to.
leo707
2013 Jan 16, 4:36am
But any positive press about Detroit is immediately a "scheme" or "scam"--no wonder this city can't come back.
It is not so much Detroit as it is a poster who titles their thread, "Investing Wisely in Detroit No Matter Where You're From."
When you start off with such a blatantly too good to be true blatant shill statement almost anything that comes out of your mouth next is going to sound like a scheme or scam.
I spent a fair bit of time around the Detroit area for work, and never in my life have I seen so many bowling alleys and liquor stores. Horrid roads and dead cars everywhere. Only been to downtown a few times and it was mostly a boarded up ghost town.
Have to get out to at least Farmington, or preferably Ann Arbor before it got 'livable'.
I spent a fair bit of time around the Detroit area for work, and never in my life have I seen so many bowling alleys and liquor stores. Horrid roads and dead cars everywhere. Only been to downtown a few times and it was mostly a boarded up ghost town.
Have to get out to at least Farmington, or preferably Ann Arbor before it got 'livable'.
I am sorry to break this to you buddy but all the suburbs the surround Detroit's borders are MORE than "livable", by your standard. Actually some of them are way nicer and pricier than Farmington or Ann Arbor. Gross Pointe Shores (where houses reach $6 Million) , Gross Pointe Woods, Ferndale, Oak Park, Warren, Royal Oak (a very expensive suburb) Southfield, Redford, Dearborn Heights, Dearborn.. All great areas to stay in that are extremely safe, I live in those suburbs and I don't even lock my door at night. Additionally, I spend my weekends in Detroit, 3 major Casino's, Greektown, Midtown, Wayne State University, where 18 year old girls walk around (including my sister, who comes home safe and sound everyday). I agree that there are some dangerous areas in particular, but you can't say the whole city is scum.
Going to have to agree somewhat with sirmajdalot. When I took a trip to Detroit, indeed the city itself is probably the biggest ghost town on the planet. What's really clear is that all the money left decades ago to the burbs. I actually traveled to the burbs and some of the areas are actually fairly well-off. The areas outside of Detroit are actually quite pretty. In fact I recall reading somewhere that some of the suburban areas outside of Detroit are home to some of the richest people in the country. That said, I spent my fair share in the Northeast dealing with winter and for me- no thanks. I didn't enjoy freezing my ass off for 4-5 months out of the year.
ElenaMo313
2013 Jan 21, 1:18am
Make your own conclusion, but I still believe that Detroit is a good investment and won't back down from that.
But any positive press about Detroit is immediately a "scheme" or "scam"--no wonder this city can't come back.
It is not so much Detroit as it is a poster who titles their thread, "Investing Wisely in Detroit No Matter Where You're From."
When you start off with such a blatantly too good to be true blatant shill statement almost anything that comes out of your mouth next is going to sound like a scheme or scam.
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I have been lurking Patrick.net for quite some time, but felt compelled to actually join and post since coming across several articles about investing in Detroit housing.
There were a few good nuggets of advice, like telling people to really spend time in the areas they are interested in investing in. Personally, I am thinking of using Metro Property Group (http://mymetroproperty.com) to help me find a decent house in a decent neighborhood. And there are lots of services and realtors out there that can help you transition.
But to tell someone, whether from out of town, state or the country, not to invest in Detroit because of sensationalized news or “second-hand information†is ridiculous. There are many areas within the city where you can buy cheaply in clean, safe, tight-knit neighborhoods. I personally like the following:
West Village
Midtown (Cass Corridor and near the New Center Area)
Rosedale Park
Grandmont (very tight neighbors--I even know of a European couple who recently moved into the area and feel welcomed…they’re even new to the country, so they didn’t know what to expect)
Corktown (Bagley)
These areas may still be deemed “up-and-coming†but are pretty well established with active neighborhood block clubs. And most often, neighborhoods around these areas get better as well, once development rolls in. Many of the areas I named are clean, quiet and safe--just do your research (outside of sensationalized media outlets, of course).
What are your thoughts?
#housing