Ol’Otis
The Picasso of the Ghetto
can't lie O'Fay's impress me sometimes 
seen an opp take advantage of it
seen an opp take advantage of it
Wypipo making big money kicking Detroit residents out their home
- Thread starter Ol’Otis
- Start date
Chinese buyers are doing this too. Detroit will be redeveloped. Land is always worth something.
Ol’Otis
The Picasso of the Ghetto
in Detroit?
at 2:44
that lady bought her house in 2009 for $3,952, makes $2k a month and couldn't pay her property taxes (they assessed the house at $40k for crying out loud)? her back taxes over 8 years (from 2009-17) was $23k and she paid $1k toward it. did she think the city was going to give her a house for UNDER $4k and she doesn't have to pay property taxes? they were never going to assess the house for $4k because it was never worth that little, detroit was just giving out deals like that back then because they wanted those homes owner-occupied and collecting property taxes on them, not abandoned.
that lady bought her house in 2009 for $3,952, makes $2k a month and couldn't pay her property taxes (they assessed the house at $40k for crying out loud)? her back taxes over 8 years (from 2009-17) was $23k and she paid $1k toward it. did she think the city was going to give her a house for UNDER $4k and she doesn't have to pay property taxes? they were never going to assess the house for $4k because it was never worth that little, detroit was just giving out deals like that back then because they wanted those homes owner-occupied and collecting property taxes on them, not abandoned.
They said that the city taxes are higher than legal but yes you shouldn't be loosing your house over 23k. This is something that could have been avoided.
yup
It should have been brehs buying up blocks not these cacs in the video or some foreign lease holders...
can't lie O'Fay's impress me sometimes
seen an opp take advantage of it
You cannot raise a family , maintain a house/ pay your property taxes ,pay utilities, buy food , pay for a car / maintenance on about $12 salary it's impossible
Ol’Otis
The Picasso of the Ghetto
interesting. seems like an amazing way to create huge amounts of black ownership while keeping these people in their homes
Most Bro's do not have the collateral to invest in those old homes or the business savvy to pull it off
especially when the city is over 70% black
instead we're seeing them in the videos behind laptops working for the cac who is buying up the block.
although i have to say it was people like this lady getting in on the deals in 2009 buying fixer uppers for under $5k. what happened after that is what we're seeing in the video. it's like the thought of paying $5k cash for a house and then having to pay the city $1k-2k a year in property taxes offended them so they said fukk paying taxes. i would love to only be on the hook for property taxes and homeowner's insurance right now.
MasterOfAllHeSurveyz
All Star
I remember this. The lady never paid her taxes. She shot herself in the foot.
Ol’Otis
The Picasso of the Ghetto
Detroit has more than enough black businessmen who does have the collateral
She was making 2k a month that equates to about 24 to 30 k a year , that is not a living wage dude
yes Chinese are buying up proerty like crazy
especially when the city is over 70% black
There are black people also buying these properties. There was a video with a breh in his early thirties who has home renovation expertise. He bought up his old street and fixed up the houses
and rents them out.