Things To Do in Onaway Michigan

Things To Do -Onaway Michigan

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Onaway 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 Onaway Michigan has to offer.

We asked staff members of the Onaway 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 Onaway, MI.

Think we missed something? Add your bucket list item here and be sure to explain why it’s great.

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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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Reason # 1 The Motor City

Maybe I'm a little bit biased since I come from Detroit, but I think that Detroit is a great reason to visit Michigan. Ignore, for a moment, the decrepit old houses and deteriorating neighborhoods, and think of the city's rich, vibrant culture and historical landmarks. Detroit is home to "The Big 3" and "Motown" after all. I don't care how much negative press you've heard about the city, don't tell me that you haven't driven a Big 3 car or been in love with a Motown song. The city's current decline is certainly no reason not to visit. Just be sure to keep your doors locked.(That was a joke, by the way).

Reason # 5 The Sports Teams

So, the Detroit Lions haven't done so well in the past few years. The Tigers almost made it to the World Series this year. The NBA is in the middle of a lockout, so we won't mention the Detroit Pistons. The Red Wings are probably the most consistent team we have, and although I don't follow hockey, it seems like they're winning the Stanley Cup every other year.

Plus, there are all of the college teams - the Big House (University of Michigan) is one of the most popular sporting venues in the country.

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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.

Conclusions

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.


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