How Cheap Are Houses In Detroit Right Now? :mindblown:

[Blackking]

they do gamble on a billion dollar scale. that's what tanked the economy

I agree... but a full understanding will allow you to see why the investors in Detroit gained billions in real estate , property management, and other random shyt during the 'tank' ..... also will allow you to see y others who didn't do it that way...still ate because they invested in those companies (banks) that tanked the economy personally because they knew well ahead of time that the gov would bail and the companies would be profitable.

What don't you understand about capitalism?... this is the America. Invest in Destructions, invest in Death, invest in Depression... and you will be good. Defense contractors eat really well from us blowing up brown people all around the world. shyt is what it is. So you can't really see pics of the East Side of Detroit to make investment decisions on Detroit.

Basically that gamble wasn't even a gamble.

But Detroit def is not a gamble because the streets and companies are in on it. The culture in Metro Detroit is it's cool to live in midtown, cool to work Downtown.. plus the business incentives in MI are attracting companies. The entire area is being developed, so it's not a gamble.

 

[Schmoove]

Detroit MI Real Estate - 4847 Listings - Zillow

 

[Kritic]

Don't sell it...Its worth more as a rental......The right tenant will come through...Just gotta be patient....

the headache is not worth it. do the math and see whether it's worth it and whether you could do anything with the money. detroit economy is shot. esp renting a house to low income tenants.

my tenant is a lawyer.

 

[dallastexas]

Blame the liberals for ruining a once great city.

You buy one of these houses and you are either getting shot at at night or will be robbed.
The neighborhood is trash

another dumbass

how about blame the ultra rich republican manufacturing companies such as auto and etc that once flooded states like michigan with jobs and then shipped them overseas to "reduce cost" and because of the Bush taxcut/loophole that allowed them to save even more money

how about you actually blame the root of the problem and not just the fact that democrats govern that region

fukin dumbass

 

[Liquid]

another dumbass

how about blame the ultra rich republican manufacturing companies such as auto and etc that once flooded states like michigan with jobs and then shipped them overseas to "reduce cost" and because of the Bush taxcut/loophole that allowed them to save even more money

how about you actually blame the root of the problem and not just the fact that democrats govern that region

fukin dumbass

It's easy to point blame to a party that had the history of spending more.

Too bad that really doesn't hold much weight anymore as Democrats in office have shown more control of finances than Republicans for the past 20+ years.

 

[HollowPoints2]

another dumbass

how about blame the ultra rich republican manufacturing companies such as auto and etc that once flooded states like michigan with jobs and then shipped them overseas to "reduce cost" and because of the Bush taxcut/loophole that allowed them to save even more money

how about you actually blame the root of the problem and not just the fact that democrats govern that region

fukin dumbass

He is right.

Those manufacturing companies were being taxed to death by the Democrats who ran that city for 30 years. I didn't even mention the pensions that the city could not afford to pay itz employees. All of these things contribute to companies moving their businesses overseas or to a state that does not have a high corporate tax.

Once your tax base leaves who is going to pay for the social programs and other programs that the city or state needs.

So that is where Detroit is at right now.

You can't demand all these high taxes and expect people to stay and not go where taxes are not that high.

 

[Liquid]

He is right.

Those manufacturing companies were being taxed to death by the Democrats who ran that city for 30 years. I didn't even mention the pensions that the city could not afford to pay itz employees. All of these things contribute to companies moving their businesses overseas or to a state that does not have a high corporate tax.

Once your tax base leaves who is going to pay for the social programs and other programs that the city or state needs.

So that is where Detroit is at right now.

You can't demand all these high taxes and expect people to stay and not go where taxes are not that high.

I wasn't aware that only the car companies went overseas

 

[Mr swag]

I'm keeping my eye on the bankruptcy.

If they do I'm heading down there with 10 thousand to buy like 4 houses

 

[HollowPoints2]

I wasn't aware that only the car companies went overseas

Any big time corporation bringing alot of money but is being taxed will find another state or country with lower taxes to do business in.

 

[Liquid]

Any big time corporation bringing alot of money but is being taxed will find another state or country with lower taxes to do business in.

No shyt genius, but it's more than just the black and white democrat vs republican debate people love to get into.

If it were that clear republicans would have 100% control

 

[intilectual recipricol]

I just bought out ya neighbor, see what ya neighbor's bout

 

[Ill-Mind]

I'm gonna have to keep an eye on this situation, might have to cop a house out there

 

[HarlemUSA]

I'm tempted to drop 10k now and have half my mortgage paid off

 

[Liquid]

I'm tempted to drop 10k now and have half my mortgage paid off

Do it, the prices cannot possibly go much lower. At worst you break even IMO

 

[Brown_Pride]

Detroit is already getting international investors to take ownership of certain properties there.

10-15 years from now Detriot will be a totally different city.

This right here.
Think long term.
What are the taxes on a 10k home? NOT FUKIN MUCH that's what. Even if you rent that shyt out on an "upkeep" basis, I.E. you tell someone they can live there for 100 bucks and KEEP THE SHYT UPKEPT and free of crackheads and squatters you float that shyt out for a few years and then either rent it out when things rebound....they will rebound, or you outright flip it, you'll be in great.

When the AZ house market went to shyt a TON of out of state investors came in and bought up properties, took the L for about 2-4 years as renters weren't there, now that they are the houses they swooped in on at 60k are valued at 200k. 60k plus 40k expenses (property management company) and now they are flipping those shyts for 100k profit.

Tell me where you're going to invest 100k and 4 years later get 100% profit back?

Detroit will not be left to die, that's what you have to remember.

Oh and Section 8 is an awesome way to go. Even if your tenants are horrible, the state picks up the tab on damages ANd it's guaranteed rent.