DETROIT, MI
COLUMBUS, OH Many people think about Columbus as a college town, with 40 colleges within 50 miles of downtown. However, Columbus also has a number of HUGE companies which are constantly drawing people to the area, such as Nationwide Insurance, JPMorgan Chase, Honda, and Cardinal Health. The economy here in Columbus is as diverse as it can get. Also, once these college students graduate, they don’t leave, resulting in a median age of 32.3 years, 7 years younger than the state average. Since many recent graduates are unable to purchase homes immediately, there is a high demand for rentals. Columbus is also landlord-friendly. There are no laws regarding pets, payment grace periods, re-keying fees, or limits on late fees. Also, unlike many states, there are no restrictions as to the number of days a homeowner can rent out their property on online home sites, such as AirBnB. Whether it be the entertainment at the Short North and Grandview Strip, the quality of the education systems, or the numerous job opportunities, Columbus remains an incredibly attractive and affordable place for real estate investors to consider. • Diverse economy: Nationwide Insurance, JPMorgan Chase, Honda, and more • Young population of recent college graduate renters • Landlord-friendly laws • Quality education systems
Detroit and its suburbs have a vast amount of well-priced single-family homes and multifamily, and an abundance of vacant land. For those seeking land, the Detroit Land Bank Authority recently enacted their new Neighborhood Lot Program which allows residents to purchase their neighboring lot for only $100. With 8,000 old homes scheduled to be demolished in the next few years, investors have a prime opportunity to buy up large plots of land perfect for development. This influenced the Detroit Chinese Business Association to place Detroit #5 on the list of cities in which the affluent in China were looking to invest. Whether you are looking for an urban center, a suburb, a college town or rural investments, Detroit and southeast Michigan offer a gold mine of opportunities. The Central Business District of Detroit has been totally transformed by Dan Gilbert, Quicken Loans and Bedrock Investments. Once at the top of the world during the Industrial Revolution, then crashing down to an abyss during the riots of the 1960’s, the revitalization and gentrification of Detroit will be a case study for the life cycle of major US cities. • 8,000 old homes to be demolished will provide opportunities for development • Central Business District transformed by Quicken Loans and Bedrock Investments • Ranked #5 city in which affluent Chinese investors are looking to invest
William Whitehouse Agent, Berkshire Hathaway HomeServices Connect with William
Daniel Bobry Sales Associate, Weichert Realtors Connect with Daniel
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