Description of Michigan
Investors looking for buy-to-let opportunities in Michigan need to have their wits about them as this is the kind of state where the term ‘mixed bag' is somewhat applicable. For example, in some of the poorer areas around the capital Detroit, homes are practically given away in areas where demand for low-cost housing is high. At the other side of the spectrum, landlords in Wayne County are making an absolute killing with up to 19.8 per cent gross rent yields on the cards.
As a buyer’s market, extremely low prices in some areas make Michigan a prime opportunity for both newcomers and those looking for affordable family housing. There’s also a strong tourism industry to consider if interested in investing in the state’s popular urban centres.