Investing in Detroit: 3 Myths That Could Cost You

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I talk to a lot of potential Detroit investors and these are the three common myths we discuss. They're okay with the first one and the second one, but the third one is the hardest one to get through to them. Investors are SMART people who have proudly done their research. They just don't know what it is that they don't know. I don't have nine hours on the phone to educate them so I made a course. I made the course that could have saved me countless thousands if only I had it in the beginning. The Know-it-All investors are like watching a horror movie. "I told you not to go in that room!" But they go right toward danger.

CLARIFICATION: At the end I told about 3 investors. Investor #1 bought 12 doors from us in 2017-2019, when we had a property management business as well. He also has rental investments all over the country. When we stopped managing his houses, he lost money because he does NOT have the "master's degree" in managing his property manager. Nor did he have the time to follow up with his property manager weekly, which would have saved him a lot of money. Prices have appreciated so much though that he asked me to sell his properties. That's why I was talking with him recently.

Investor #2 is local and has properties in Detroit and the suburbs of Detroit. I was commiserating with him at a REIA event about Investor #3.

Investor #3 is someone who found me on Youtube a while ago but is now working with an agent. This person also has properties all over the country so he thinks Detroit will be similar and he was not interested in my course. This happens more often than not when I try to warn people that Detroit takes some finesse and they shouldn't assume a property manager will take care of them. It frustrates me to watch people get hurt in Detroit and make a bad name for Detroit when really the investor could have avoided a lot of pain if they had the humility to take my course.

If you want to discuss buying a Detroit turnkey rental, please go to my calendar here and book a call:

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Link to Course: Section 8 Rental Mastery


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I don't always update this page because my properties have a buyer sometimes before they're done and I can list them on this page. You can email me too at Monique@greatdaypm.com

**Disclaimer:**
I'm not a lawyer, and the information shared in this video is for informational purposes only. It is not intended to be legal advice. Please consult a qualified attorney for any legal concerns or questions you may have.

0:00 Intro
0:44 Multi Family v. Single Family Home
2:08 Dog Park
2:31 Best Zip Codes in Detroit
3:59 Egotistical Know-it-Alls

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Detroit Investor Information:


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East Side of Detroit:
West Side of Detroit:

Detroit Renovation Project Start to Finish:



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About our company:
Great Day Realty buys houses in Detroit, renovates them to high standards that will pass city and Section 8 inspections, places deserving tenants, and then flips the houses to investors from all over the country and all over the world. We then guide you to manage the house yourself or we can refer you to our team member for property management.

To Tenants:
Please check my website for rental qualifications, available properties, and a rental application: www.GreatDayPropertyManagement.com/rent

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Great Day Realty, LLC
14685 E. 11 Mile Road, Suite A
Warren, MI 48088
(248) 390-3982 Monique's cell
Monique@GreatDayPM.com

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