Somebody buy this beautiful home in Detroit for $1,200 or I will.

The Rock

New York

Los Angeles

Earth

**… is Detroit next ??? **

:-k

Detroit has some very nice homes, and the prices seem very appealing.

What are the current job aspects in Detroit? (No Jobs No Residents)
What is the median income level? (Need to be able to afford living)
What is the current population? (Cant sell 1000 houses to 5 buyers)
What is the current Real Estate Inventory?

I would love to buy and rehab these homes, but need to know I can sell one after its done.

You would be throwing good money after bad money. Sure you can get a great deal in Detroit but unless you know the neighborhood you are buying in it may not be a wise investment.

BTW that home will not sell for 1,200. There’s something wrong with that ad. Here is another listing.

http://www.trulia.com/homes/Michigan/Detroit/sold/2097365-2532-Longfellow-St-Detroit-MI-48206

Guys I’m a Mi boy…

Trust me these neighborhoods that were built back in early 1900
had true architects and are each masterpieces in their own right.

They are gone forever …yes abandoned and taken over by a populace
which will never maintain nor recognize the skill it took to create them.

You’d need 20 foot walls and 5 city blocks acquired in these areas to build
a safe zone.

I’ll man the towers with my GA Precision 7.62 mm masterpiece …built by George himself.

But Nick is gonna have to bring the steak and beer …

Buy the homes and move them. :wink:

I think your odds are better buying a bitcoin. :wink:

This is a good photo essay on a young guy who bought one for $500.

Bob
do you have any idea how incredible that story is ?

Damn

send more like that …

My thinking is to create a nice neighborhood unto itself for retirees on fixed incomes (they don’t want/need jobs). They could live like kings and queens with housing costs like those.

If you scroll down farther on that link it says that that address is a rental property.

$1,200 a year? Who is going to pay $1,200 a month for an asset that just sold for $32K in November? It appears to me to be for sale again but you’re right, $1,200 can’t be either the listing or the monthly rent price. Neither makes sense.

I think a neighborhood for retirees on fixed incomes (who don’t need employment but need inexpensive housing) would be perfect.

A house isn’t going to do it because retirees don’t want to live in bad neighborhoods.

But a whole neighborhood would work.

You boys in So Cal are made of money anyway.