I'm inclined to visit for a few weeks to scope the scene, but first: What do the open / concealed carry laws look like up there?
First off, prices have been low in Detroit for a long time. These cheap homes aren't in good neighborhoods. It would be safer to live in the suburbs, and then, the prices are more in line with the rest of the country.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
All I need to see is a coffee shop and a whole foods then I know breh. A change gon comeDo it, the prices cannot possibly go much lower. At worst you break even IMO
I'm inclined to visit for a few weeks to scope the scene, but first: What do the open / concealed carry laws look like up there?
It's a gamble, but again...these are floor prices. At worst you are breaking even, best bet you win big. It's worth dropping 10-20Kwhy, exactly does anyone anticipate a rebound? plenty of economically depressed cities never rebounded and continued to shrink in population or stagnate.
I've been watching this dudes youtube channel who's involved in taking care of/fixing up properties that out of state people (and sometimes out of country!) invest in. Really good for an inside look at the area and the kind of shyt you have to put up with around here in the D. Interesting stuff here and he's got a ton of videos. Many are quite mundane but I still like watching them for some reason
I wouldn't mind seein a real show on TV from dude. "This Old Ghetto House" could work. You never saw Bob Villa chasing crackheads off his work sites
call me crazy, but investing in a bankrupt city built around a type of labor that is never coming back doesnt seem like a good idea. i'd rather buy the cheapest property in a great location than to throw money at a disaster zone
my boy walked down the street with a AR... police spoke to him but couldn't do shyt. Also, if you have cw you can carry your hand guns. It's a very liberal policy up here...I'm inclined to visit for a few weeks to scope the scene, but first: What do the open / concealed carry laws look like up there?
so a small as house today going for 150k min bid... it was broken down and fuked up looking but it was in a area that is under development. Why do you suppose they are looking for all that money for that shyt?
You guys are thinking short term. You sit on 5 properties that cost you about 25K in decent areas with research can be flipped for 500-650K in 10-20 years...thats an INCREDIBLE return even if you have to put 10K in each house to get them up and running.