Even when you take into consideration the dramatic plunge of real estate values that began in 2008, Novi real estate value has appreciated 28.4% since 2000. The resilience of the Novi market has been one of the driving reasons why investors have been making it a part of their property investment portfolio. Here are some of the top five reasons to buy and hold real estate in Novi when you're expanding your holdings.
While purchasing rental property out-of-state offers limitless investment opportunities, it also presents some logistical challenges that may be hard to overcome. Even the most organized investors cannot be in two places at one time if they live outside of Michigan. Thus, several problems can arise when an investor is unable to manage a property or engage with tenants.