[westtexas28]

Hi

Just wondered if anyone can offer me a bit of advice , please be brutal and honest lol

I can get my hands on a vacant plot of land in Saginaw, MI which once which once had a home on the plot but this was demolished back in 2004

I am thinking to buy the plot and either keep hold of it for investment reasons or actually build another home on the land at some stage and rent it out

I do not live in the MI area and to be honest am a little worried about spending a few grand in this area

Is this just throwing money away or have I got a semi reasonable idea lol !!!!

[dori36]

I admittedly do not live in Saginaw but I am a Michigan native. Saginaw has had a number of challenges over the years and some areas are truly scary. Lots of property devaluation and lots of not-so-safe areas there. Others who actually live there can be more helpful (you need to tell just where the parcel is located in Saginaw.) but on the surface, I'd say be very careful. I'd probably not be looking to do too much investing in much of Saginaw.

[danielj72]

Saginaw is not far from me at all, I am there quite often. In my opinion, you may be taking a big risk. A good deal of Saginaw has become a ghetto, you can look up its crime rates which are terrible. Unemployment in the area is awful. The worst areas of Saginaw are its east side and south side. Lots of burned out houses, empty boarded up houses. You can buy a whole house for 5k to 10k. Most of the city is so bad, im not sure you would ever see much of a return. West side Saginaw is a better, still a few nice areas there. Now outside Saginaw is much nicer, and the business strip has lots of nice stores and restaruants( Bay Road, Tibbawassee rd). This is all in Saginaw Twp. Anything in Saginaw city should be avoided, as I said before you may not see any return. Investing in the bad side of Saginaw would not be much different than investing in Detroit, Huge risk. Hope this helps you.

[Swansen]

The rental Market isn't so bad, especially if you have the right location and have fair prices, of which are very low. Right, on that, you best bet if you plan to build to rent would be to make some cheap studio style apartments, and plan in the area of $300-400 a month. Lots of students looking for stuff like that. However, this all depends upon area. Otherwise, i don't think it would be such a good idea. I really don't see Saginaw picking back up anytime soon, if ever. The area will probably just level out and stay that way.

[westtexas28]

Hi thank you for everyone who got back to me , your comments have made me make my mind up that I wont be buying any thing in that area if I am honest

Thanks again

[michmoldman]

Originally Posted by westtexas28

Hi thank you for everyone who got back to me , your comments have made me make my mind up that I wont be buying any thing in that area if I am honest

Thanks again

Good choice!!