To the "Black people need to own property and practice group economics" people: How about Detroit?
- Thread starter Responsible Allen Iverson
- Start date
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- detroit group economics
you know them cats are fraudulent. Detroit could easily become a powerful black city
looking at copping a rental property by next spring
Wouldnt be wised to invest in a city that this country doesn't want anymore with black money.
Detroit Wave
Veteran
or we essentially buy our own part of a nation that doesnt want us anyways
So how long would it take for Detroit's market to finally rise to get people to move into these houses?
What if only some of those houses only get fixed up while others didn't get the chance? Wouldn't that hinder the value as well?
What about the upkeep of these houses during the harsh Detroit winter if no one moved in?
While this would be nice to just go and buy a house for cheap I'm thinking it would cost a lot more than people think in the long run.
What if only some of those houses only get fixed up while others didn't get the chance? Wouldn't that hinder the value as well?
What about the upkeep of these houses during the harsh Detroit winter if no one moved in?
While this would be nice to just go and buy a house for cheap I'm thinking it would cost a lot more than people think in the long run.
NICE IDEA BUT THE EXECUTION IS BAD.
YOU WILL NEED A CREDIT CARD WITH 2000+ AVAILABLE TO USE TO EVEN PARTICIPATE.
YOU WILL NEED A CREDIT CARD WITH 2000+ AVAILABLE TO USE TO EVEN PARTICIPATE.
PROBABLE? SO YOU DON'T KNOW THEN?
probably*
That dump aint no paradise pimpin
W. BOSTON IS PRETTY MUCH A HISTORIC NEIGHBORHOOD.
People have to move into the houses 180 days after it is sold. If significant progress is made but the house is not completely fixed up by that time, a person might be able to get an extension.
The city will take back the house if someone buys it and doesn't do any work on it. The only way to keep the house is through working on it, and then having someone move in after the work is done, so the upkeep part is taken care of.
The houses may have a cheap initial cost but they clearly need work and nobody is denying that. You should not be considering this unless you are prepared to fix the houses and live in Detroit.
THERE IS A REASON. THEY LIMIT THE NUMBER OF HOUSES YOU CAN BUY TO ONE. THEY WANT INVESTORS TO STAY AWAY.
THEY WANT INVESTORS TO STAY AWAY BUT THEN THEY MAKE IT HARD FOR THE PEOPLE TO BUY. BAD EXECUTION.
EDIT: YOU CAN BUY MORE AFTER YOU MEET THE TERMS FOR THE FIRST HOUSE.
porque
Boricua Guerrero
In the meantime, there’s money on the table for those who will buy and fix up the houses in one neighborhood.
If the house is one of the 79 houses in the Mary Grove Community on the west side, after the city takes the property and auctions it off, the new home buyer can apply for a $25,000 forgivable loan from Talmer Bank. Talmer has allocated $1 million to help homeowners in that particular neighborhood.
“If you want to live in the house, I don’t know what you’re going to bid, $10,000, $15,000, you’ll be able to get $25,00 from Talmer and they will forgive $5,000 per year, for each year you live in the house, up to five years,”
also check out "the Embattled Mansion that Crashed BuildingDetroit.Org"
http://www.buildingdetroit.org/Listing/Details/466498/115-Chicago-Blvd
more pics
http://detroit.curbed.com/archives/2014/06/chicago.php
if you have a job that allows you to work from home or you work on the road then this is a good deal
but the lack of jobs makes it hard for most people
and without a sizeable tax base it lacks many of the basic need of most major cities
check out Parts Unknowns episode on it
http://www.free-tv-video-online.me/player/novamov.php?id=ceebccecfbf04
If the house is one of the 79 houses in the Mary Grove Community on the west side, after the city takes the property and auctions it off, the new home buyer can apply for a $25,000 forgivable loan from Talmer Bank. Talmer has allocated $1 million to help homeowners in that particular neighborhood.
“If you want to live in the house, I don’t know what you’re going to bid, $10,000, $15,000, you’ll be able to get $25,00 from Talmer and they will forgive $5,000 per year, for each year you live in the house, up to five years,”
also check out "the Embattled Mansion that Crashed BuildingDetroit.Org"
http://www.buildingdetroit.org/Listing/Details/466498/115-Chicago-Blvd
more pics
http://detroit.curbed.com/archives/2014/06/chicago.php
if you have a job that allows you to work from home or you work on the road then this is a good deal
but the lack of jobs makes it hard for most people
and without a sizeable tax base it lacks many of the basic need of most major cities
check out Parts Unknowns episode on it
http://www.free-tv-video-online.me/player/novamov.php?id=ceebccecfbf04
You'd have to buy A LOT of properties in order to make a difference. I'm talking a city block or more and even then you would have to be in a position financially to lose or break even without it impacting your overall financial health.