Real Estate Underground
Real Estate Underground
Ed Mathews
Detroit's Comeback: Turnkey Cash Flow in America's Most Undervalued Market
44 minutes Posted Jun 23, 2026 at 4:00 pm.
The most undervalued market in the country
Introduction
Welcome to the Real Estate Underground
Meet James Lloyd, Voytek Mardula, and US Properties
Why Detroit: the contrarian comeback thesis
Buying the right house in the right neighborhood
Managing a remote portfolio with a local team
The investor journey from first call to cash flow
The full turnkey system, step by step
Foreign nationals and US entity formation
Buy, hold, and refinance to scale
Short-term rentals and Detroit's hotel shortage
Opportunity zones and bonus depreciation
The auto industry and tech sector renaissance
The final five
What gets them out of bed
A decision they would take back
AI obsession and the book on the nightstand
Defining success and life off the clock
How to reach US Properties
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Show notes
For the 200th episode of the Real Estate Underground, the conversation lands on a city near and dear to Ed's heart: Detroit. His guests are James Lloyd and Voytek Mardula of US Properties, a Toronto-based team that has spent ten years building a full turnkey operation on the ground in Michigan. The thesis is contrarian and simple. While most people wrote Detroit off, James and Voytek heard it was in the early innings of recovery, drove down to see it for themselves, and found architecturally ...