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detroit

Buy In Detroit For Next To Nothing

The affordable homes that have been popping up in the Detroit auctions are nothing new to our followers with Own It Detroit, but new legislation passed by Mayor Mike Duggan has created even more potential for many of the abandoned homes across the city. Many of those who were purchasing homes in Detroit paid with…

Get The Most Revenue From Your Rental Property

There are countless ways you can maximize your profits from your rental properties. Have you thought of them all? Chances are, Own It Detroit has a few more suggestions up our sleeve that can help you put more money in your pocket! Let’s get creative and find a few more ways that you can increase…

Maintenance Pitfalls And How To Avoid Them

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…

Determining If Your Market Will Remain Profitable

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,…

What You Need To Know Before Buying A $500 Detroit Home

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…

The Detroit Tigers Are Back!

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,…

7 Hidden Costs In Detroit Real Estate

Most expenses that come with real estate investment are fairly obvious to savvy investors. However, outside of property taxes, insurance costs, and utility upkeep, you may not be aware of the hidden costs that come with every rental home or apartment. We’ve complied a list of the most notable hidden expenses and fees, in order…

Going For A Dip In Detroit

When it comes to Detroit real estate renovation, it is a rare find to acquire a building that has not only stood the test of time, but is still in relatively good shape. Additionally, what about those with unique features such as swimming pools? Many old buildings that had pool houses have been filled and…

Evicting Tenants The Right Way

In a perfect world, your tenants would pay you on time, never cause an issue in the house, your appliances would stay in pristine condition, and the world would keep turning on its’ happy little head. However, in Detroit, evictions and tenant removal is a serious and real issue. Making sure you are properly evicting…