Hello, I have approximately $280,000 that I would like to invest in real estate. My focus has been on single-family homes priced around $80,000 in the Detroit, Michigan area. I’m researching the best investment locations and have chosen Detroit due to its rapid growth and my personal connection to the city. Additionally, I am evaluating condominiums in Dallas, Texas, which may offer lower rental income but possibly greater stability. I would greatly appreciate any insights into investment strategies and suggestions for suitable areas with my budget. Furthermore, am I making a mistake by seeking two or three less expensive properties instead of investing in one larger, higher-quality property? Thank you.
Hey there, have you considered looking into real estate crowdfunding platforms? They allow you to invest in multiple properties without the hassle of owning physical property. It’s a good way to diversify within the budget you already have, especially if you’re not set on managing more than one unit. worth a shot! 