Detroit isn't only for local investors; we're not a secret, either! This area is one of the best markets for real estate investors who want to build tremendous cash flow and large portfolios. So, how can out-of-state investors grow profitable portfolios when living in another state?
You need a full-service real estate investment partner who knows the local market and how to find, rehab, and manage properties for your success. With the right partner, you have an asset on the ground year-round. Serious investors never want to miss an opportunity to add a new property. Choosing real estate for sale in Detroit means you need a local team with their pulse on the market to bring new opportunities your way—no matter where you live.
Why should long-distance investors build a portfolio in another state? Here's what you need to know!
Your Market Might Not Be the Best
The status of real estate markets changes all the time. Sometimes a market is 'the' place to invest, while other times, the same market experiences a downturn. When your local market isn't the best for investing, that doesn't mean you have to give up on being a successful real estate investor.
- Expanding your market means following success wherever it leads you. Investors with large portfolios buy properties all around the country.
- Whether you choose fix-and-flip properties or build a portfolio of turnkey buy-and-hold rentals, location isn't a barrier with your sights set on more properties and income to build long-term wealth.
- Going where the markets are strong is a smart way to invest. Choosing real estate for sale in Detroit means investors want to take advantage of our booming market.
As a full-service real estate investment solution, we can provide the opportunities you need to help grow your portfolio.
It's okay if your hometown market isn't the best spot for your growth! However, before building wealth in better markets, make sure you do your due diligence and pair up with the right partner.
Research With the Right Partner
Buying a rental property in Detroit or any other out-of-state market requires the same quality of research you put into choosing the right properties in your local market—but it can be more challenging when you can't visit a property in person.
- The best local teams become critical to your success when investing in long-distance real estate opportunities.
- We have the market insights and experience to help you grab the best properties (before other local competitors) and make wise investment decisions.
- A local real estate investment partner can also check out a property in person and give you honest feedback about its potential for success.
Your local resources must be the best to maintain your success when investing in a market like Detroit from out of state. However, before you can research opportunities with the right partner, you have to find them!
Research for the Right Partner
Don't trust a local hobbyist company to help you navigate the best real estate for sale in Detroit. You need a one-stop-shop to take advantage of what the Detroit market has to offer as an investor abroad.
- The wrong property manager and investment partner won't have the expertise you need for elite growth.
- It's also critical to choose a partner that operates with integrity while offering full-service real estate investment solutions.
Not every property management company and real estate professional have the right experience to manage portfolios for out-of-state investors. Look for a partner with:
- Plenty of experience to understand the market and match investment properties to your goals
- The rehab expertise to get properties rental-ready and complete fix-and-flip projects that meet market demands
- Best-in-class property management services to maintain every rental and collect the rent successfully
- Licensed brokerage services to help locate ideal properties and close deals faster
- Clear and consistent communication to make sure your needs are met from wherever you invest
- Availability to keep you informed about new opportunities and your current portfolio
- Proven processes that make it easy and efficient to ramp up a new property and build your income faster.
Choosing one partner who can do everything for you makes it easier to invest from out of state. Rather than hoping your broker can work well with a local property manager and a renovation contractor, you have one cohesive team to listen and understand your goals, find and broker the best properties for your portfolio, and manage each property for success!
Grow Your Detroit Portfolio With the Best Full-Service Investment Partner
The best local partner for your success does it all! Building a significant Detroit portfolio doesn't matter if you don't have the right full-service investment partner to make sure you get paid—every month.
- The Own It Detroit team works with investors in our local market and all over the country.
- We're your best asset on the ground to find real estate for sale in Detroit that is the right match for your portfolio.
- Then, we make sure you generate the income you need from your investments.
Ready to learn more about how to successfully invest in real estate regardless of the market? Learn more with your free copy of our guide to real estate investing!