Building a real estate portfolio is an excellent way to build wealth and security for you and your family. Investing in Metro Detroit can go beyond buying a single-family home, duplex, or apartment building. There are many great ways to creatively invest in the Metro Detroit real estate market. Whether you focus on land, mobile homes, partnerships, or commercial properties, you are certain to find the niche that is right for you, Below, we offer 3 of the many creative ways to invest in Metro Detroit real estate.
Create the Right Partnerships
The truth is, nobody can do it all alone. Working with the right people will help you find success in the Metro Detroit real estate market. When you are first starting out, you’ll want to build a team that you can trust and rely on. This doesn’t mean hiring a bunch of employees, rather it means partnering with the right professionals who can help you reach your goals. A few of the people you will want on your team include…
- A local, investor-friendly, agent who is knowledgeable about both real estate laws and the Metro Detroit area
- A title company that can provide excellent service and a fast turnaround when you need to close quickly on a property
- Construction specialists who can help you when you can’t, or don’t want to manage a project on your own
- A property management company can help as you grow your portfolio and find yourself managing many properties
- A clean-up crew who can help you clean out your new purchase right away
- An attorney who can review everything for accuracy and legality
If you have money to invest, partnering with a professional buyer such as Pinnell Enterprises, LLC, can help you to quickly see a return on your investment without having to do the legwork. We have these professionals on our team and know exactly how to get the job done. Reach out to us to discuss partnership opportunities and the potential earnings we can create together.
Invest in Metro Detroit Land
Buying land can be an excellent real estate investment that is often overlooked by Metro Detroit investors. While it is a great asset to buy and hold, land can also generate a passive income for you while you wait for it to gain value. For example, you can utilize the land for parking, farming, event space, and much more. Many people simply invest in land as a quiet investment, one that will gain value over time, especially when purchased in an up and coming area. Of course, you can also buy land in Metro Detroit with the intent to develop. Adding value by building a needed structure can help you to see a large return on your investment. Just make sure it is a needed building, and not something that will cost you money, then sit empty. Before buying land in Metro Detroit, make sure you are familiar with the rules and restrictions. Become familiar with zoning laws and do your homeowner on the property first.
Generate Income With Commercial Space
For some investors, investing in Metro Detroit commercial real estate can feel overwhelming. However, the specialists at Pinnell Enterprises, LLC can help you learn all you need to know. Commercial real estate can be very lucrative for the right investor. If you are able to purchase an in-demand location, you will be able to secure a great tenant at a great price. Commercial tenants can be easier to manage as they bring a level of professionalism and don’t want to risk losing their business because of eviction. A few types of great commercial real estate include…
- Multi-family properties that are over 4 units
- Office space
- Retail and shopping centers
- Industrial buildings and warehouses
- Hotels and hospitality
- Medical or dental offices
- Restaurants and food service locations
- Mixed-use buildings that can house a number of different businesses
Commercial real estate can be incredibly lucrative and is a great niche for some investors. There are some differences from residential real estate, which you should be aware of. This includes things like tenant expenses, management needs, and your level of risk. Pinnell Enterprises, LLC is happy to answer any questions you have about investing in Metro Detroit commercial real estate and can provide you with data to help mitigate your risk.
Pinnell Enterprises, LLC Can Help You Find the Best Investments in Metro Detroit!
If you are looking for more creative ways to invest in Metro Detroit real estate, our team would love to help. Reach out to Pinnell Enterprises, LLC today and tell us all about the goals you have for your portfolio. Together, we will create a plan to help you reach them. We are happy to answer your questions and help you find the Metro Detroit real estate investments that are right for you! Give us a call today to learn more about us and what we can offer you as an investor in Metro Detroit real estate! (734) 245-9654