Rosedale Park, University District, Northend, Old Redford, East Village, almost anything off Outer Dr..... are good houses & decent neighborhoods. You still got to be cautious where ever you go in Detroit.
Don't sleep on Barton McFarland, good schools and a lot of renovations going on, give it a drive through bc it's changing so fast that Google maps isn't even up to date. When I got my first house on Mendota in 2019 there were over 40 houses that were owned by the land bank or otherwise unoccupied and now it's down to eight.
At the Hudson site, parking is underneath the buildings and there's going to be a car elevator/stacker. The left building is mostly commercial and event space, retail on the ground floor, the tower on the right is going to be part hotel, and part residential space
From my research there's basically 2 routes for Canadians earning rental income in the US. The first is to flat out withhold 30% of your earnings for US taxes, this is very simple and doesn't require filing but it's expensive as you give more tax than you need to. The second route is filing a non-resident tax return (can't remember what it's called) this would require you to apply for a non-resident tax number and you would be able to claim various expenses on your return to grind down your income. The US gets first dibs on your tax, but as a Canadian you're obligated to pay taxes on your worldwide income. This is where the US-Canada tax treaty comes into play. Basically, after paying your tax in the US you're able to claim it as a foreign tax credit on your Canadian return. This eliminates double taxation.
Detroit properties will explode in the next few years. All the investments that were made by Dan Gilbert will take a few years to effect areas that are outside of the immediate downtown area. But for now investors should enjoy a little cash flow while values rise especially once we get through this high interest rate phase.
I've recently been turned on to Detroit for buying rental properties. What are decent areas with multifamily or single family that are inexpensive and ready to rent?
48204 on the west side has been treating me well, between Pinehurst and Mendota I've got three houses with tenants paying on time every month (knock on wood). The trick with Detroit is pricing the rent reasonably so it's more of a hassle to get evicted than to just pay. It's been working for me since 2019.
Awesome video man, me and My mom justo bought a house in detroit rental property, we are from Chile i tried to do My Best at researching we bought 13362 Willshire DR, zip code 48213 is it a good neighborhood? The property is currently rented but i think is kind of low( 870 USD) but a property managment company is handling it and said to us that it was a good tenant. We had the house from Nov 22 no problem with tenant til now. Hope You answer
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Rosedale Park, University District, Northend, Old Redford, East Village, almost anything off Outer Dr..... are good houses & decent neighborhoods. You still got to be cautious where ever you go in Detroit.
All of those are great areas.
@@QuickPropertySolutions They're underrated if u ask me..... Where you from bro? The PI? Manilla.... Cebu?
Don't sleep on Barton McFarland, good schools and a lot of renovations going on, give it a drive through bc it's changing so fast that Google maps isn't even up to date. When I got my first house on Mendota in 2019 there were over 40 houses that were owned by the land bank or otherwise unoccupied and now it's down to eight.
@@8AmazingAcres Barton McFarland??? Never heard of it….. I’ll check it out!!!
Awesome video thanks for the info! Will be flying out to Detroit this weekend to visit potential investment properties
I appreciate the simplicity of this video keep em like dat
Thank you! I have to hold myself back sometimes because sometimes I go too deep into details.
Wow THIS WAS a DIFFERENT from your standard video 👏🏿 AWESOMELY refreshing 👍🏿 I enjoyed it !
Thank you Bruce!
At the Hudson site, parking is underneath the buildings and there's going to be a car elevator/stacker. The left building is mostly commercial and event space, retail on the ground floor, the tower on the right is going to be part hotel, and part residential space
Thank you for educating me! I'll be doing more research into it. I think it's going to be pretty awesome.
I'm planning to move to Detroit, thanks for the great tips!
Where do you plan on moving to?
Great video ! thanks for the tips, very helpful.
Glad it was helpful! Let me know if there's anything else you want me to cover.
Very specific and knowledgeable video 👍 great content
Thank you. Please let me know if you want to know anything else.
Great tips, thanks
Thank you for watching and for commenting! Sorry for the late reply.
Awesome video
Thanks! I appreciate you watching!
Anyone from Canada and invested in the city? What's the implications of that tax wise?
I work with a lot of Canadian investors. I don’t know the tax implications though
From my research there's basically 2 routes for Canadians earning rental income in the US. The first is to flat out withhold 30% of your earnings for US taxes, this is very simple and doesn't require filing but it's expensive as you give more tax than you need to. The second route is filing a non-resident tax return (can't remember what it's called) this would require you to apply for a non-resident tax number and you would be able to claim various expenses on your return to grind down your income. The US gets first dibs on your tax, but as a Canadian you're obligated to pay taxes on your worldwide income. This is where the US-Canada tax treaty comes into play. Basically, after paying your tax in the US you're able to claim it as a foreign tax credit on your Canadian return. This eliminates double taxation.
Is okay to buy and rent in a bad area in Detroit
If it were me, I wouldn't. Too much risk, but a lot of investors do it.
Detroit properties will explode in the next few years. All the investments that were made by Dan Gilbert will take a few years to effect areas that are outside of the immediate downtown area. But for now investors should enjoy a little cash flow while values rise especially once we get through this high interest rate phase.
I totally agree. The time to get into it is now!
Awesome Man!
Thanks for the visit. Let me know if you want me to cover anything else.
I've recently been turned on to Detroit for buying rental properties. What are decent areas with multifamily or single family that are inexpensive and ready to rent?
48204 on the west side has been treating me well, between Pinehurst and Mendota I've got three houses with tenants paying on time every month (knock on wood). The trick with Detroit is pricing the rent reasonably so it's more of a hassle to get evicted than to just pay. It's been working for me since 2019.
@@8AmazingAcres thank you for the advice. Makes sense considering problems with evictions I've read about.
Usually what I tell people is zip code by zip code, block by block and street by street. Start with no war zones.
Nice video bro
Thanks for the visit!
Best area to buy to rent in Detroit Michigan how far is Flint Michigan to Detroit Michigan
I think an hour north. I don't know much about Flint though.
Good information
So nice of you. Thank you for watching! Not sure if you did this, but I would really love a "like".
@@QuickPropertySolutions I want to invest in “low end” Detroit property to stabilize for rental income
Sounds great. If you ever need help with anything let me know.
Hit me up! I live in Cal, and want an investment home.
Let’s talk! linktr.ee/emiliobasa
Nowhere
Awesome video man, me and My mom justo bought a house in detroit rental property, we are from Chile i tried to do My Best at researching we bought 13362 Willshire DR, zip code 48213 is it a good neighborhood? The property is currently rented but i think is kind of low( 870 USD) but a property managment company is handling it and said to us that it was a good tenant. We had the house from Nov 22 no problem with tenant til now. Hope You answer
Hey let’s link!
Sorry for the late reply! I'd love to help you out. Reach out to me here. linktr.ee/emiliobasa
Great video.
Glad you enjoyed it