Investments

[DIDM]

so do we have an unreal opportunity in front of us all?

you can own a home and land in Detroit for back taxes, I'd bet for a decent bid you could buy whole neighborhoods from the bank.

hire neighbors to tear down and recycle all the properties, and sit on that shit for 10 years

Detroit can't die,they are now working on flooding the city with artists to try and revitalize the city

fuck the stock market, buy Detroit, take it back.

Fuck, turn Detroit into the Mendo of the Midwest, turn the abandoned Target's into Bliss

 

[Snype]

Homes are real cheap out there but the taxes are high. I saw some homes for sale on Craigslist for less than 40k but the taxes were basically 3 months of rental income. Then there'll be at least 1 month of maintenance and insurance which will leave you with maybe 7 months income. If you paid for the house in cash, it's only 10% a year on the houses that I saw. That's not too good for all that risk. I was getting 20% in another ghetto on the east coast and the prices were 2-3 times higher than Detroit. Now if Detroit turns around, that'll be a different story. You really could buy a whole neighborhood out there and make it whatever you want.

 

[Burnside GC]

I have faith after watching scrapping videos about Detroit that anyone with $ to invest could really sweep in

it's hard to consider it harming folks when no one lives there, legally

just like right now it the best time to invest in marijuana industry, I see Detroit as a no loose bet, cheap as fuck,and going nowhere for a few years, but going somewhere still, just slow

 

[dank.frank]

Detroit is being bought up by Persians...



dank.Frank

 

[DIDM]

it's not hard to see the reality of it,you buy when it's down, sell high, Detroit is as low as they come ATM,but there is vested interest

fuck, they have an NFL team,wouldn't doubt if the owners are going hog wild throwing money at land

anyways, not trying to convince,just thinking out loud

would love to own the Packard property

millions of wasted SF

 

[MIway]

funny but just looked at a property yday.

bunch of older folks that have lived there since the 50's...handed down to kids (now older). still has abondoned houses 1 block away, slated for demo. two on the block had been sold cheap & turned into rentals, shittiest on the block for yard maintenance. younger guys hanging on the porch, actually took the interest to heckle me... couldnt make out exactly what they said, but tone & stares weren't friendly. house needed basically a total gut, and it was the nice one on the block.

most of the abondoned houses i'v visited fit the above. some neighborhoods are revitalizing & becoming mixed, some all black neighborhoods good, most are just downright scary... everyone eyeballing me as driving around.

some places i could move into, most no chance in hell... i'd b targeted & hit by the kids in the neighborhood.

u get what u pay for... but the nice neighborhoods like harper woods... still cost a bit to get an older house needing renovation. and the nice homes in those areas still paying 6 fig's, give or take. if looking in the 10k range... scary.

 

[Vash]

Funny you speak of the abandoned properties in Detroit. There's a guy on YT who acts as a middleman for the foreigners who are investing in the abandoned buildings. He films his experiences as he approaches these properties. In one of them, he found "tenants" who had a grow going on in the basement.