Take a look the rent at Craiglists and search the property value- not cheap, right? Rent is very high, right?
Look at Ypsilanti- a small town- between Canton and Ann Arbor-, Eastern Michigan University. Far far away from Detroit, not even close to Detroit. When Visterion closed auto parts plant in 2009, house value dropped 90% or more. Bank forclosures were everywhere. I even bought renals at $5000 or $3000- rent $750 per month. Now the value is at least 60% off the normal. Land itself with utilities installed will cost the current house value.
Always rent, never vacant= college town.
Now, one of China auto company bought the old plant of Visterion. The plant is currently vacant. In 5 or 10 years, I am looking 10 times appreciation when the plant is occupied by Chinese or Indian auto company.
Good investing everywhere in Michigan as far as you do not go to Detroit area or downtown Detroit area.
Look at Ypsilanti- a small town- between Canton and Ann Arbor-, Eastern Michigan University. Far far away from Detroit, not even close to Detroit. When Visterion closed auto parts plant in 2009, house value dropped 90% or more. Bank forclosures were everywhere. I even bought renals at $5000 or $3000- rent $750 per month. Now the value is at least 60% off the normal. Land itself with utilities installed will cost the current house value.
Always rent, never vacant= college town.
Now, one of China auto company bought the old plant of Visterion. The plant is currently vacant. In 5 or 10 years, I am looking 10 times appreciation when the plant is occupied by Chinese or Indian auto company.
Good investing everywhere in Michigan as far as you do not go to Detroit area or downtown Detroit area.
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