Many people across the globe are putting their money and faith into the city of Detroit. As Detroit becomes a technological hub and revitalizes the automobile industry, it’s a wonder why anyone who was locally oriented would look anywhere else. We have put together a definitive argument of why you should stop putting your money outside of the Motor City and why it is financially in your best interest to stay put!
Become An Active Investor
An active investor is involved in all aspects of the real estate process. Active investors can be found doing the following…
- Flipping a home
- Acting as a landlord
- Participating as a partner in a real estate company
- Any anything else that comes along with investing in homes.
Active investors are involved in all of the financial aspects of where their money is going, how it is being spent, what their money is doing, and how they are getting even more back into their pockets. They’re talking to tenants and contractors directly, and pushing to keep things in the best order as possible.
Do you want to have this type of control and say-so on your investment? In order to be an active investor, you need to be close to your investment. In order to be close to your investment, you need to stay in Detroit.
Trust Your Team
Active investors take a lot of time to build up a solid group that they constantly surround themselves with. They know the best contractors, the best real estate deals, and know how to keep their properties up and running all the time. They’ve cultivated this entity over years of hard work, but also because they remained local and devoted to their area. If they moved their investment outside of Detroit, they would essentially have to start over at square one, and wouldn’t ensure the same success as the trusted team they’ve built up in the city.
Finding The Diamond In The Rough
When you remain local, you become savvy to all of the nooks and crannies that Detroit has to offer. You may find the best home to purchase in the oddest location! Properties are endlessly popping up in Detroit, and you never know when your next home will show up in your ideal location. Staying local allows you to scope out neighborhoods and get the true feel for the land.
While Own It Detroit understands that investing, especially in Detroit, is a global enterprise, we encourage you to follow suit of those who have moved back, started fresh, and put their faith into our great city.