Single Family homes are the Bread and Butter of Metro Detroit Real Estate investing. The price/rent ratios are outstanding. You can buy 20-30 single family homes in a good location at a good price/rent ratio and retire. Easy. One might expect to find a nice property that costs a little more than $100k and rents for around $1300/month. This type of property easily beats the 1% rule, has double digit COC ROI, and you can expect to get around $300 a month in pure cash flow right away. Adding a nice quantity of Metro Detroit Single Family Homes is a very solid foundation to any investment portfolio.
Short Term Rentals? Like Air BnB short term rentals? In Detroit? YES! With the abundant supply of auto and hospitality industries there is a strong demand for executives, traveling nurses, athletes and more needed short term stays. Oftentimes, nightly rates can push up over $200/night. It’s possible to make a few thousand dollars PROFIT on a good short term rental in the Metro Detroit area. It goes back to that supply and demand curve. There is a much lower supply of short term rentals available than there is demand, so those that do have them, do very well.