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

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Liquid

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babylon1 said:
why, exactly does anyone anticipate a rebound? plenty of economically depressed cities never rebounded and continued to shrink in population or stagnate.
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Unlike other cities, Detroit has the infrastructure for a very quick rebound. All it takes is relatively quick fixes by us with homes and let the investors take over the retail/warehouse spaces that are already there. The Bankruptcy will end up being the best thing for Detroit.

Chinese Car Makers Planting New Roots in Old Detroit | IdeaFeed | Big Think
 
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Liquid said:
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.

This is not even including the options of renting them out to start off. Again, even if you have to invest 10K in each and fix one up once a year to rent...you'd be foolish to pass it up. Section 8 if you have to. I literally have Detroit mapped out already and I haven't even been there.
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That's grand and all but if your city is so fukked up that you have squatters everywhere..... ya know what I'm saying?
 
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88m3 said:
That's grand and all but if your city is so fukked up that you have squatters everywhere..... ya know what I'm saying?
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Avoid 48204, 48205, and 48207 right now and buy as close to downtown or wherever you can grab info as to what big investor bought nearby. By the end of next month I will know more about Detroit than some people who lived there for 5+ years.

I know you have steady cash flow and are one of the few in here that can drop at least 10K out there. I will be making a post for all to possibly eat in a couple of weeks with hundreds of pictures.
 
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Liquid said:
Avoid 48204, 48205, and 48207 right now and buy as close to downtown or wherever you can grab info as to what big investor bought nearby. By the end of next month I will know more about Detroit than some people who lived there for 5+ years.

I know you have steady cash flow and are one of the few in here that can drop at least 10K out there. I will be making a post for all to possibly eat in a couple of weeks with hundreds of pictures.
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I look forward to it, thank you
 
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If I have the time I would video record street by street and post it exclusive on the coli
 
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Type Username Here said:
Can you post some pictures? Are the prices low there as well?
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ummm the prices used to be low. Not really any 'low' anymore because it's a hot spot. I will post some picture from my phone I guess. I'll do it tomorrow if I have time.
 
jadillac

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NZA said:
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
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Detroit winters are brutal. The only thing keeping ppl there/attracting ppl there was the large number of stable jobs in the auto indusry. Now that that's dwindled, there's no reason to flock there
 
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