Detroit, Michigan was listed among metro areas with highest yield on rental properties in the nation. 18% according to RealtyTrac, so our Real Wealth vetting team checked it out and came back shocked at the impressive revitalization taking place in that city.
Two billionaire families have committed to turning around the blighted city and appear to have succeeded. Mike Ilitch, owner of the Little Caesars Pizza chain and two of the city’s sports franchises, and Dan Gilbert of Quicken Loans, are making multi-billion-dollar investments in a two-square-mile area downtown. Today the creative, vibrant culture is almost palpable.
Detroit is the automotive capital of the world, 100 fortune 500 companies have offices in the city of Detroit and surrounding neighborhoods.