Detroit Drug Rehabs: Myths of Investing in Detroit

Detroit, Michigan is going through tough times with the housing market. Many of the neighborhoods consist of people who work hard, have pride in their property and want to provide a safe environment for their children.

Sadly, due to the economy many homeowners can simply not afford their houses anymore which is forcing them to sell at rock bottom prices. Due to these conditions there is a prime market for real estate investors with money to come in and invest in the city. Although this is a great opportunity for investors there are myths going about the city of Detroit that are frankly not true.

Myth 1: The home will eventually be vandalized and my safety will be questioned

Currently, Detroit is working on lowering crime like any other major city around the US. The residents are committed to making their neighborhood safer and are against crime. Safety also depends on where you reside within Detroit. Again, Northwest Detroit is a safer part of Detroit, but with any vacant house, security measures will need to be taken. The houses need to have proper security and be boarded up while in the rehab process. When deciding where to invest in Detroit it is important to find the best neighborhoods where the residents take pride in their ownership. Its the Broken Window Theory if the house is fixed up and kept up then in return the house will be cared for. Investing in neighborhoods like these in Detroit should not lead to concern.

Myth 2: True the houses are cheap but no one will rent

Due to the overall unstable economy people are not wanting to buy houses, fewer people are getting accepted for mortgages and more houses are getting foreclosed than ever before. The fact is that the rental market in Detroit is hot and keeps getting better. Houses are easy to find and renters are lining up. There are more people wanting to play it safe and rent housing than ever before! People who own homes in the poorest areas of Detroit are wanting to move to the better areas of Northwest Detroit which adds to the demand of rental properties.

Myth 3: Detroit=War zone

When many people think of Detroit a picture comes to mind of abandoned houses, unemployment, and high crime rates. This picture is distorted because the truth is that Detroit is a lot like any other metropolitan area. Every city has their bad and good areas. My main investment area is Northwest Detroit. These areas consists of homes that were built in the 1920’s and 1930’s for the upper class residents. They are classic brick houses in safe neighborhoods. The past owners take pride in keeping the homes’ true beauty up. The residents are hard working people who make a decent living, have college educations, are raising families, and keep up with their lawn care just like every other city in Michigan.

Myth 4: It will not be a pleasant experience, I have heard too many bad stories

Most of the horror stories that have been going around are the stories of what has happened in the worst areas of Detroit. If the houses are fixed up and maintained renters will be easier to find and you will hold tenets longer ultimately making you more money.

Myth 5: The odds outweigh the positives

Again its key to invest in the right ares of Detroit if you do then the returns on Detroit investment properties will be high. The rental rates for Detroit range from $ 850-$ 950 per month. Considering these houses are less then 40,000 that is excellent. Investors see an average of return of 20-25% each year. These numbers do not include equity which would make it 50% or more for the properties. The media does portray Detroit as a drug dealing and drive by shootings city, but that is just not the case. People will hear what the media says and not change their minds. For the others, this is a great opportunity to make a lot of money and invest in a great city!

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Filed under: Detroit Drug Rehabs

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Filed under: Detroit Drug Rehabs

Eli Hurvitz, who died November 21 at age 79, built up the Teva pharmaceutical company to its current status as the largest generic drug manufacturer in the world. The Jerusalem native began work at Assia Ltd. in 1953, washing laboratory equipment.
Read more on Jerusalem Post

Lester And Nava Carry Red Sox Past Mariners 6-1

Filed under: Detroit Drug Rehabs

Dayan Viciedo and Adam Dunn homered as the Chicago White Sox outscored Detroit 7-5. Viciedo also hit a go-ahead, two-run single to finish with four RBIs. Jon Lester fired an eight-hitter and Boston captured its fourth straight home win by beating …
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