The ROI for real estate has always been attractive: 10.6% for residential real estate nationwide, each year. It’s hard to find another investment that offers returns that steady! Granted, the financial crisis of 2008 has, understandably, given some people the jitters—and not every market sees the kind of returns you want to call mom about. Still, the question typically isn’t whether or not you are going to profit from real estate investment, but how. Here are some tactics to consider when investing in Detroit real estate that you may want to give a shot to strengthen your property investment portfolio.
The principle theory behind the growing demand for real estate is that the earth is only so big, the population is increasing, and people will always need somewhere to live. Although this is true across the board, it is a far more tangible reality for families. While single people can often "bunk up" with a friend or crash with the cousins for a few months, families tend to have needs that preclude this kind of ad hoc housing; they often require a single-family rental to call home.
Gunnar Phillips, the personal trainer for Chris Hemsworth and Billy Dee Williams (At 82 years old, yes. Talk about goals!) says success is a "joint effort." He continues on the topic by saying doing a workout with a partner "can help motivate you to reach your goals."
His philosophy applies to real estate investing as well: having the right partner can make all the difference. And just like when you're hitting the gym, it's not only about fostering the next deal—the right partner can also help motivate you to reach your long-term goals. Here are some partners every investor in Ann Arbor real estate needs.