I
nvestor's Paradise: A City's Turnaround

    Detroit, once bankrupt, has become an investor's paradise. The city's real estate market has seen a significant turnaround, thanks to investors like Chase C. Hunter who took advantage of low property prices to make a profit.

    Hunter's Journey

    Hunter became a real estate investor after a Google search and an initial investment of $3,800. She found ample opportunities in Detroit, where homes were selling for as little as $1,000. She closed on her first two properties in June of 2021.

    Renovation Challenges

    Hunter had to invest heavily in renovations for her first two properties. She spent $85,000 on renovations for the house she bought for $2,000 and $130,000 to convert her second property into an office due to unexpected water line problems.

    New Beginnings

    Hunter moved to Detroit permanently and became a real estate agent to further her business efforts. She now focuses on buying properties she can turn around quickly and spends around $5,000 to $10,000 to fix them up.

    Investment Opportunities

    Investors like Hunter have played a significant role in Detroit's real estate boom. The city's median sales price has risen from just $58,900 in 2009 to $250,000 as of May 2024, according to Realtor.com.

    Passive Real Estate Investments

    For those who want to invest in real estate without turning it into a full-time job, there are several safe and easy alternatives. These include investing in real estate investment trusts (REITs), crowd-funding platforms, or purchasing exchange traded funds that give exposure to the real estate market.

    What to Read Next

    Unlock access to 4,700+ hand-picked, single-family homes across America — and the juicy rental cash they can generate. Here's how to start with as little as $108

    Stop crushing your retirement dreams with wealth-killing costs and headaches — here are 10 'must-haves' when choosing a trading platform (and 1 option that has them all)

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.