the_jordan•5d agoOG Member

Everyone says buy cheap buildings in Detroit but I found a different angle

Ngl, I kept hearing people say grab those $5,000 houses on the east side and fix them up. But after three months of dealing with title issues on a property near Gratiot and I-94, I realized it was a money pit. Instead I targeted a small commercial strip on Michigan Avenue near Livernois for $120,000 that already had tenants paying rent. Has anyone else had better luck with occupied buildings versus vacant fixes?

3 comments

3 Comments

rileyb615d ago

Eh, I'm gonna disagree a bit. Buying occupied buildings can look good on paper but you're stuck with their problems. Vacant fixes let you control the whole deal from the start.

joel_butler5d ago

Wait, isn't the whole point of buying occupied that someone else already vetted the tenants and the rents are proven? @jake_torres68 made a solid point about that cash flow. You can spend all day fixing up a vacant place and still end up with bad tenants nobody wanted.

jake_torres685d ago

Occupied buildings come with a real cash flow from day one, not just a dream. Those vacant fixes tend to eat up more money than you planned before you ever see a dollar back.