Detroit got houses for $100?????!!!!!

[beenz]

THEY ARE SELLING HOUSES THAT NEED TO BE TORN DOWN BASICALLY. IT IS A PART OF THE BLIGHT REMOVAL PLAN.

thats kinda what they are doing here in some areas. the city is selling vacant lots for $1 in some of the really bad areas. it's a win/win for the city. they can then collect tax revenue, and they won't have to pay to keep up those plots with the cutting of the grass and what not.

 

[beenz]

You can buy them for $100 and in 10 years they might be worth $120

man that's a 20% return on investment

 

[3rdWorld]

Id buy the whole block. nikkas making jokes in here and im trying to own half of Detroit..

 

[MR. SNIFLES]

Id buy the whole block. nikkas making jokes in here and im trying to own half of Detroit..

MOST OF THEM YOU HAVE TO MAKE A DEAL TO DEMO THE HOUSE OR DO SOME TYPE OF DEVELOPMENT TO THE LOT.

 

[eastside313]

That house gonna need 30k in repairs

Park grove is a terrible area, it's probably 3 houses on the block

 

[ManBearPig]

There are dollar homes in Gary

 

[intruder]

It's from talking to you guys i'm starting to realize just how bad things really are in Detroit.

Is anyone here from there? What happened? How did the decline start?

 

[JamilALAmin]

There are dollar homes in Gary

I just bought one of those in Gary. Right over there by the Horace Mann District. Didn't even need that much work. Most people don't see it but I see a shyt load of opportunity in Gary and on the Southside of Chicago too.

 

[Microfracture]

Id buy the whole block. nikkas making jokes in here and im trying to own half of Detroit..

My dude is working and living in Detroit right now and we all talk about buying out a block of cheap ass homes and turning it into a gated community in the middle of the hood

 

[1thouwow]

I got a 100 on my checking right now and got good credit. I'll own it but I won't live there help me eat brehs

 

[Detroit Wave]

its about the taxes

 

[Dada]

I know it's an auction price but aint nobody gon bid on that shyt

http://www.trulia.com/property/3157952816-15024-Park-Grove-St-Detroit-MI-48205



Looked at my wife like

She looked at me like


She cant handle a rough city


But i can

I don't know how well a person can handle bullets flying thru your house in the middle of the night or being fire bombed while you sleep. It's not just a matter of toughness.

I'm from Ohio, too, but live here (in the area, not Detroit, anymore). The taxes ARE high. It costs more for all types of insurance because the risk is higher. You will actually pay more to live not as a good. Better to live out in the subs, it pretty much evens out. You see a lot of people from Detroit moving out here, now.

Because of the high property taxes and people ransacking these homes when they *are* being fixed up, you cant just "sit" on them, they way you can in other places. Everything, including the plumbing fixtures and wiring, will be torn out and sold..and you'll STILL have to be paying taxes on it and having people mow the lawn/keep the place up. This is not something you want to undertake unless you're prepared to put a lot of money in it or just don't care and won't pay taxes or keep it up..eventually you'll lose it but admin is so bad, maybe not for a while.

 

[ROFL_GUY]

http://realestate.msn.com/blogs/post--buy-eminems-childhood-home-for-dollar1?ref=bfv

Rapper Eminem’s childhood home in Detroit is up for auction. Minimum bid is $1, and the Michigan Land Bank may not get that.



The 767-square-foot house where Eminem (whose real name is Marshall Bruce Mathers III) lived as a teen is getting one last brush with fame. It’s pictured on the cover of the rap artist’s new album, "Marshall Mathers LP 2." It was also the cover shot for his 2000 album "Marshall Mathers LP."



The home is one of about 4,000 that the Michigan Land Bank received from the county treasurer’s office last year after the houses failed to draw the minimum $500 bid at a tax auction.

 

[Poppa_Dock]

shyt the land it's sitting on will be worth more than that in 20-50-80 years when they bulldoze this shyt and gentrify the whole city

is absolutely nobody looking at it this way or is everybody just legit retarded?

How much would they get you for taxes a year if you just owned it and kept it?

 

[SoulController]

to get that up to code your looking @ 15k, city wont give you a Cert of Occupancy

and the building materials would probably get stolen during the renovation...