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Rental properties come in a variety of shapes and sizes, and the options for your next investment is truly endless. If you’re first starting out in the real estate business, and more specifically in with rental income, it can be a daunting task to start. What should you consider first? At Own It Detroit we’ve…
Each home has its’ own set of headaches, but some are greater than others. When you’re looking to invest in a home either for rental purposes or to flip, make sure that you don’t fall victim to these huge maintenance problems. While we encourage you to find those diamonds in the rough that are lurking…
Often times, you’ll hear us talk about the term ‘yield’ as a way of determining how much of your investment you’ll be getting back on your purchased home. This is usually displayed as a percentage, and will often factor into if you buy the idolized home or not. Ideally, you will want a higher yield,…
We know that a $500 starting auction price for the 65,000 Detroit homes that have been foreclosed on sounds incredibly enticing. At Own It Detroit, we want to encourage you to take risks and find amazing deals, but even $500 homes come with hidden costs. The home may come with residents Many of these foreclosed…
Did you recently purchase a Detroit home and are looking to renovate? If you’re not sure where to start, we have a short list of guaranteed return on investment deals, which are fairly easy and minimal renovations for your property. Remodeling Magazine recently published their list of the top 5 things that will improve the…
Whether you’re a dedicated sports fan or a casual spectator, everyone in Detroit is well aware of the madness that is Opening Day. This year, the Detroit Tigers swept the field with a great win to start off their season and our volatile Michigan weather held up! As this baseball season kicks into full gear,…
The first five steps we went over are personal areas that you can gather and accumulate quickly. However, if you’re looking to purchase your first property, chances are you will need a loan. Review these steps to help get your paperwork and finances in order to successful navigate through a home loan process. Prove history…
Have you found your perfect piece of property? Convinced that this is one that is going to set you down the path towards financial freedom and real estate success? When you’re ready to start venturing down the investment path and you found your first property, here are a few steps that you should take immediately….
Large machinery and construction equipment has been spotted at the new site for the Detroit Red Wings arena. Work and breaking ground is expected to start in early April, in hopes of completion by the summer of 2017. While no specific date has been set for the beginning of construction, the $535 million arena and…
In May 2014, the Sequoia Property Partners purchased the CPA Building, located in the heart of Corktown, for $900,000. However, shortly after the building was acquired by Sequoia, the Detroit City Council ordered the company to demolish the historic landmark. Sequoia has different plans for the CPA building, and has already put forth a permanent…