Chase C. Hunter became a real estate investor after a Google search and a $3,800 initial investment. She found opportunities in Detroit with homes selling for as little as $1,000. Hunter purchased two properties, renovated them, found renters, and repeated the process for eight homes.
Despite paying very little for the homes, Hunter had to invest $85,000 and $130,000 in renovations. The Detroit real estate market’s boom helped fuel her success, as the city saw prices soar from $58,900 in 2009 to $250,000.
Investing in fixer-uppers isn’t the only way to profit in real estate. Platforms like Arrived offer opportunities to invest in short-term loans used for projects like renovations or property rehabs, providing secure returns for investors.
For those looking to invest in real estate without hands-on responsibilities, options like real estate investment trusts (REITs) and exchange-traded funds (ETFs) offer a more accessible and diversified way to participate in the market.
Mogul is a real estate investment platform offering fractional ownership in blue-chip rental properties, providing investors with monthly rental income, real-time appreciation, and tax benefits without the need for a hefty down payment or direct management responsibilities.
Read more at Yahoo Finance: A Detroit woman bought 8 fixer-upper properties in the ‘most unlikely real-estate boomtown’
