Metro Detroit residential real estate sales up 3.5 percent in January; prices down 7.7 percent

“I have been a real estate investor for over 20 years, investing mostly in the San Diego, Californiaarea. After the market downturn, I found most of my rental property barely producing excess cash every month. I had hundreds of thousands of dollars in equity locked up producing almost no cash.

After discovering Michigan Invest, I sold one of my multi-family apartment buildings in San Diego,and used the proceeds tax free via a 1031 exchange to purchase 4 homes in Detroit. The properties were producing income from the beginning and I am now earning more in one month than I did all year with my other property. I am thrilled with the decision and am currently looking to sell another building in San Diego to purchase more properties in Detroit with the assistance of Michigan Invest.”