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What areas in Detroit are good to invest in?

posted May 19, 2013, 5:35 AM by Aaron B Lewis   [ updated Mar 4, 2015, 2:29 AM ]
UPDATED March 4, 2015
Probably the most common questions I receive on an ongoing basis. The below holds true however I have a new stance and fully advise my clients on the following.

"The best area to invest in is the are you are vested in"-Aaron B.

I believe given the market and opportunity in Detroit, there is a much better, more efficient, prudent way to invest and would not advise a strategy that is not focused wholeheartedly in a area or areas. Anything else is wildly inefficient and counterproductive (for you as an investor and for the revitalization of the city). Those investors who are careless with there money and lack discipline and determination in earning healthy returns and profits will likely view this stance as to difficult. Making healthy return as a sophisticated investor is not easy, or everyone would be doing it. It takes more work and certain skills which even if you don't have yourself, you can achieve by working with a trusted adviser who does.

Keep in mind first that your investment GOALS will guide you to the type of property and area best fit to achieve you goals. (see Investment goals for Detroit rental market-coming soon)

I am getting this questions almost daily and in short there are alot of good areas in Detroit, and more bad areas. Even as a resident and investor in Detroit over the past decade I still have to get indepth information BY STREET AND BLOCK before I can make a decision to invest.

With that being said there are some 100% for sure areas in the city, very stable.

Keep in mind the list is not comprehensive  and that there are more bad,marginal areas then good ones. Pockets of great neighborhoods are everywhere.

"Well again given your goals the last thing I would be buying is vacant parcels. So I can not advise which areas to just buy vacant parcels.

However the areas below would be fine areas to purchase properties and therefore if you found vacant lots in those areas you would be fine as well.

Boston Edison
East English VIllage
Grandmont Rosedale
University District

Check out the Detroitworks Project to find those special areas on outskirts of major developments