Attractions To See -Melvindale Michigan
Melvindale Michigan is the home of many splendid things — we know it, because we live here. Beautiful scenery, majestic lakes, fabulous food, quirky locales and hidden gems just barely scratch the surface of what Melvindale Michigan has to offer.
We asked staff members of the Melvindale Press to share some of the best things to see and do in Michigan, based on our personal experiences. Here are 50 ideas you may want to add to your bucket list if you visit Melvindale, MI.
Think we missed something? Add your bucket list item here and be sure to explain why it’s great.
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Indianapolis Vs Detroit - Which Is the Better Real Estate Investment?
Detroit investment property opportunities are more prevalent than at almost any time previously. There are many reasons for the growth of ways you have to earn money on real estate in the city of Detroit. You can start with relatively small amounts of money. You can grow your funds, even if you have never done this type of investment before.
There are several things that you must keep in mind in order to profit from this type of investment. These might be buying the right type of property, knowing what the market rates are, finding good renters or buyers and managing the day to day operation of your business. You should do your homework and learn all you can about the industry before risking your funds.
Deciding on your investment goals first will help you determine the best choice of property. You should always be aware of cash flow as well as price. Finding a competent tax accountant will help to take advantage of all the Detroit investment property tax breaks. You can flip property for quick returns or you can invest for long term growth.
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In the depressed Michigan housing market, investors are now able to buy bank owned properties for les than 25 cents on the dollar. Once re-habbed, the houses are HUD-appraised. If such a home is purchased by a senior, 62 or older, who is approved for a reversed mortgage, this senior can now be a proud home owner without ever having to make house payments again. The investors are willing to provide a private mortgage or land contract on the home while the senior obtains the reverse mortgage.
Isn't this a great program?! A senior with job loss or income reduction can now own a home without making any mortgage payments*. This senior can now not only be a proud home owner, but also increase his or her financial independence and have cash available for a higher style of living.
*The senior still has an obligation to pay for home insurance and property taxes.
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Indianapolis and Detroit are popular markets for real estate investors due to affordable prices and good cash flow. Both markets offer strong ROI, but with very different risk/reward factors. Investors choosing between the two markets must consider their long term hold plans and risk tolerance.
Investors are drawn to Indianapolis for good, stable cash flow while others are flocking to Detroit betting on future equity appreciation. Detroit home prices dropped 60% from their peak level in 2006 and many investors are banking on values to come back. The law of physics doesn't necessarily work in reverse however, and what goes down doesn't always go back up.
Detroit's housing woes were not caused by overbuilding and appreciation like Phoenix, Las Vegas and Atlanta. Instead, Detroit's housing market collapse was a result of major job losses in the automotive industry. Detroit has lost 323,400 jobs since 2005 and has one of the highest unemployment rates in the country. Although the auto industry has shown signs of recovery and home prices seem to have stabilized, the economic recovery remains fragile and uncertain. Home prices remain 40 percent below peak levels. Vacant properties make up 23 percent of the total housing and the city has about 30,000 vacant homes.
Indianapolis and Detroit both offer attractive return on investment opportunities to investors, however, with very different risk-reward levels. Both markets offer comparable cash on cash returns. The difference is in the future upside equity potential.
Detroit is best suited for the more speculative investor seeking to maximize their ROI through the potential for future equity appreciation and can tolerate a higher risk factor.
Indianapolis is well suited for the more conservative investor that is looking for strong, stable monthly cash flow and preservation of equity. Local Market Monitor, Inc rated Indianapolis as the 3rd safest market for conservative real estate investors.