Quote Originally Posted by blitz2014 View Post
...But I am also thinking off buying property in detroit [[downtown?) as an investment. Like an apartment or condo [[1 bedroom), and renting it out to someone.

Is this a good idea? And if it is,
...
Or am I wasting my time and should stick to renting my own spot in Windsor? ...
I wouldn't recommend Detroit real estate as the entry point for a Canadian investor.

Bullish on Detroit in the long-term. But if you are asking this question, it suggests you are not already in the RE market. Start with properties closer to home first. A few years ago, Windsor was a good market for rental property investment. [[No idea about how it is today.)

Real Estate, especially rental properties, should be down the list of investments. After a few local homes.

Further, the US dollar is strong right now. So you'd be buying expensive in expensive US dollars. And for both the purchase and sale, you will take a 2-3% hit each way. 4-6% loss there.

Currency risk. Another 'avoid'. 5-year range something like $0.95-1.45 CAD to buy USD. We're on the higher side right now. You can place your money on Trudeau and his pipeline track record if you really drink his Kool-aid.

Last, Canada seems lost economically. They are still pushing old ideas like carbon taxes, to control global warming. With no reduction in CO2 to show for it. The USA on the other hand is looking forward. Greatly increased domestic oil and gas production. Betting that current economic growth helps future CO2 control. And so far the USA is the world leader in reducing CO2 [[at scale). This actually is a vote in favour of US investment. But I'd do it in a more diversified way.

And that's my last. Diversify. Don't bet half your wealth on Detroit Real Estate. Buy a REIT, and keep it to 15% of your investment portfolio. Sure, bet on the USA if you wish. But better a Vanguard total US market index for about 25% at MOST.

Save US rental homes for your 6th rental house. Start in Canada.