John Casmon

Detroit’s Ruin and Renaissance with Jeremy Burgess, Episode 14

The city of Detroit served as the face of the U.S. recession, but has seen revitalization in recent years. Today’s guest moved from the state of Washington to invest in Detroit in May 2007 and lost everything within the first three months. Through pure hustle and perseverance, he managed to wholesale one deal and subsequently built an entire business around it. Jeremy Burgess is the founder of Renegade Detroit Investors, and shares his roller coaster experience living through the ruin and now the renaissance of Detroit.

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Key Market Insights

Jeremy went from frying donuts at $12.76 per hour to wholesaling his first deal
Moved from the state of Washington to Detroit, Michigan in May 2007
Find out how he lost all of his savings within three months of moving to Detroit
Why he prefers the Westside of Detroit between 5 mile – 7 ½ mile on Evergreen Road
How he leveraged a $50,000 investment to launch his business and crushed it in 2008
Areas Jeremy likes in Detroit: East English Village, Morningside, Indian Village/West Village, New Center, Woodbridge, Midtown, Boston-Edison, University District, Bagley, Palmer Park, Sherwood Forest. Green Acres
Areas Jeremy likes in the suburbs: Ferndale, Clawson, Hazel Park, Madison Heights
Find out how Jeremy missed out on the Detroit “dinosaurs” and how Dan Gilbert and the local, state and federal government worked to turn the city around.
#1 Target Market Insight on Detroit: Cash flow is hard to pass up with solid infrastructure, rails and freighters
One thing Jeremy does to stay focused on his goals? Time blocks his week every Sunday

Resources Best Business Books:

The Millionaire Real Estate Investor by Gary Keller

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Tweet This:

“We got to Detroit just in time to lose all of our money”

“That Westside pocket has great home owners, lots of colonials, lots of bungalows, lots of bricks, lower crime and friendlier feel.”

“Sometimes it feels like we’re living in the shell of a better civilization, like when Rome was destroyed and you’re living there years later.”