Detroit Real Estate

Here is part two of my experiences of a Metro Detroit landlord & managing investment properties.  It is not easy being a landlord.  There are many pitfalls.  It is a very challenging business.  This is one of my past experiences. 

Currently I have a Canton MI investment property.  But my first experience as a Michigan investment property owner was horrible. I made all the mistakes you could make.

So I am writing this so you don't make the same mistakes I did.

I rented the house and kept the garage to store personal and business equipment.  I also kept a boat on the property during the winter.  MISTAKE.  You have to remember there are problems with this.  The people you rent to see what you are bringing in and out of the garage or the building on the property.  The renters are there all the time.  They have time to get into the garage without anybody knowing.  Remember the people that rent from you aren't rich.  So what you have may seem like a lot.

So your property is enticing to them. 

My experience was two fold.  They broke into the garage.  They actually took the wood off the back side of the garage and crawled into it.  Another time I stored a shrink wrapped boat.  They cut a slit in the shrink wrap and stole the radio, the depth finder, and anything else that wasn't nailed down.

It's no doubt my renters did it.  But I couldn't prove it.  My advice to you is never plan on storing business or personal property on a rental property that have renters living in another part of the property.  You will have theft problems.  Don't do it.

This is my experiences of a Metro Detroit landlord & managing investment properties.  I hope it provides you with experience, so you don't make the same mistakes.  If you benefit I will have done a good thing. 

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