Aug 1 - Detroit homes for sale for as little as $1

most viewed right now
 95
NFL Todd Todd Todd Mcshay first mock.
46 comments
@sports
most viewed right now
 93
Video inside DJ Khaled pays homage to Wayne
32 comments
@hiphop
most viewed right now
 92
Image(s) inside T1tty Meat from Nicki Minaj
25 comments
@thotsdimesetc
most viewed right now
 50
Even Dr.Disrespect can get caught up in the life it seems......
71 comments
@games

section   (0 bx goons and 1 bystanders) Share this on Twitter   Share this on Facebook
 

Props Slaps
 4 years ago '11        #1
9275 pageviews
98 comments


Sin 1263 heat pts1263
space
avatar space
space
$18,444 | Props total: 39312 39312
Aug 1 - Detroit homes for sale for as little as $1
 

 
image
image
image


In some cities, they’d be a bargain at twice the price, but not Detroit.
As the national real estate market has begun bouncing back from the housing bubble burst of 2007, Detroit home prices have continued to stagnate.

Now that the motor city has effectively run out of gas and declared bankruptcy, some rather eye-popping deals are presenting themselves to first time home buyers who appreciate the challenge of a fixer-upper.
Hundreds of Detroit homes currently listed on Zillow have asking prices below $5,000, with at least one seller so desperate as to offer his house for just $1, ABC News reported.
Buying the abandoned homes is probably not the hard part for those daring enough to attempt snapping up Detroit’s lowly housing stock in order to turn a profit down the line. Several of the properties are known to have been taken over by squatters, and many have been condemned.
At least 90 properties have been boarded up, and are for sale for under $1,000. Part of the problem is that foreclosures have soared in Detroit.
One man’s trash, however, is another’s investment opportunity, and interest in Detroit’s rock bottom real estate prices appears to have come to the attention of Chinese customers, who have begun buying up the city’s discarded stock.
"I have people calling and saying, 'I'm serious -- I wanna buy 100, 200 properties,'" Caroline Chen, a real estate broker in Troy, Michigan, told Quartz. "They say 'We don't need to see them. Just pick the good ones.'"


Read more: visit this link Forsaken Detroit homes for sale for as little as $1 - NY Daily News

98 comments for "Aug 1 - Detroit homes for sale for as little as $1"

 4 years ago '10        #2
kiddrocay 27 heat pts27
space
avatar space
space
$19,661 | Props total: 4498 4498
hmm n*gga about to cop him som prop out there
 4 years ago '07        #3
stogz 18 heat pts18
space
avatar space
space
$41,073 | Props total: 30401 30401
Son, i wouldn't buy a $1 house anywhere in Detroit even if it was "Buy one get one free".

Detroit so broke right now, they just puttin' that ad up to lure people who are in possession of a $1 bill. Three quarters of the people living out there right now have not seen authentic paper money in over 5 years.
 4 years ago '04        #4
matelyan 21 heat pts21
space
avatar space
space
$9,872 | Props total: 1907 1907
 stogz said:
Son, i wouldn't buy a $1 house anywhere in Detroit even if it was "Buy one get one free".

Detroit so broke right now, they just puttin' that ad up to lure people who are in possession of a $1 bill. Three quarters of the people living out there right now have not seen authentic paper money in over 5 years.
 4 years ago '12        #5
Ricky Retardo 43 heat pts43
space
avatar space
space
$5,984 | Props total: 13725 13725

[pic - click to view]



where do i sign?
 4 years ago '05        #6
pnoi89 11 heat pts11
space
avatar space
space
$11,311 | Props total: 4735 4735
I wonder how much the property taxes are....
 4 years ago '07        #7
FeedTheBeast 22 heat pts22
space
avatar space
space
$13,314 | Props total: 8562 8562
Any house flippers on here??? Any potential here or is Detroit a dead end??
 08-01-2013, 05:49 PM         #8
dredre73 
space
space
space
$n/a | Props total:  
 FeedTheBeast said:
Any house flippers on here??? Any potential here or is Detroit a dead end??
this has been going on for about a year now going on 2. Most of those houses are completely stripped or in a bad neighborhood. Now dont get me wrong there are some gems out there but its more bad than good.
 08-01-2013, 06:16 PM         #9
tmitch19 
space
space
space
$n/a | Props total:  
"It's so cold in the D"...
 4 years ago '11        #10
Sin 1263 heat pts1263 OP
space
avatar space
space
$18,444 | Props total: 39312 39312
 FeedTheBeast said:
Any house flippers on here??? Any potential here or is Detroit a dead end??
problem is if you renovate how do you keep the squatters out especially if you live out of state Detroit laid off half there police force in the last 10 years

and those house are all close to 100 years old

all the copper and brass probably stripped out of them

probably better to knock the house down build a cheap prefabricated box

but who are you really renting/selling to when nobody has a job there


Last edited by Sin; 08-01-2013 at 07:44 PM..
 4 years ago '07        #11
cankstoochie 48 heat pts48
space
avatar space
space
$16,591 | Props total: 1054 1054
this would be a bad investment.
 4 years ago '11        #12
Sin 1263 heat pts1263 OP
space
avatar space
space
$18,444 | Props total: 39312 39312
 cankstoochie said:
this would be a bad investment.
It could be a good investment if your willing to wait 10 or more years but with detriot in a bankruptcy property tax might go up so the city can recover
 4 years ago '13        #13
DatDude504 6 heat pts
space
avatar space
space
$759 | Props total: 266 266
Buy multiple homes on one block, knock them down and hold on to the land until developer's come calling.
 4 years ago '11        #14
Sin 1263 heat pts1263 OP
space
avatar space
space
$18,444 | Props total: 39312 39312
 DatDude504 said:
Buy multiple homes on one block, knock them down and hold on to the land until developer's come calling.
 4 years ago '07        #15
Ham Rove 3511 heat pts3511
space
avatar space
space
$55,231 | Props total: 20002 20002
 DatDude504 said:
Buy multiple homes on one block, knock them down and hold on to the land until developer's come calling.
this but its all about when/if that happens. Or if things rebound you can sell it back to the gov for a pretty penny. but Detroit is a looong way away from coming back
 4 years ago '13        #16
DatDude504 6 heat pts
space
avatar space
space
$759 | Props total: 266 266
 Ham Rove said:
this but its all about when/if that happens. Or if things rebound you can sell it back to the gov for a pretty penny. but Detroit is a looong way away from coming back
That's true, but I think it's worth the risk, depending on how much you actually pay for it at the auction. If you're single with no kids and make 35-40k+ a year, and all you pay is rent and utilities (along with car insurance etc) I don't think paying 1500-3000 a year in property taxes will hurt your pockets at all. I've been looking at the properties ever since I saw this thread, but not only the ones in Detroit.
 4 years ago '11        #17
Sin 1263 heat pts1263 OP
space
avatar space
space
$18,444 | Props total: 39312 39312
 DatDude504 said:
That's true, but I think it's worth the risk, depending on how much you actually pay for it at the auction. If you're single with no kids and make 35-40k+ a year, and all you pay is rent and utilities (along with car insurance etc) I don't think paying 1500-3000 a year in property taxes will hurt your pockets at all. I've been looking at the properties ever since I saw this thread, but not only the ones in Detroit.
see i fit that mold but i dont know if i could live in detroit though
 4 years ago '12        #18
mushroomman 
space
avatar space
space
$840 | Props total: 469 469
The ones going for $1 you dont want to mess with the areas mostly rough hoods and houses are filled with squatters or half the block already burned down. But some decent properties along the borders of grosse pointe, harper woods, and southfield that can make you money if get it low and renovate for cheap.
 4 years ago '07        #19
stogz 18 heat pts18
space
avatar space
space
$41,073 | Props total: 30401 30401
 FeedTheBeast said:
Any house flippers on here??? Any potential here or is Detroit a dead end??
You wouldn't believe how many vacant lots there are in detroit as a whole. There are literally vacant neighbourhoods. It's a mass exodus. You can't just go and buy one house because, who would buy it? You would live there and not have a neighbour for literally several blocks. There are tens of thousands of empty lots.

I first got put on to this new reality in detroit over 2 years ago. Think about that, over 2 years ago. The city just declared bankruptcy, so in 2 years.... it's only gotten exponentially worse.

Even if you were to buy 4 full blocks worth of houses, for the price of a pair of jordans.... how would you protect yourself or your investments from the criminals? It takes Detroit police over an hour to respond to a violent crime in progress. Houses literally get robbed for the bars on the windows... it's the wild west out there.
 4 years ago '04        #20
deziking 81 heat pts81
space
avatar space
space
$19,567 | Props total: 5235 5235
Shiiiattt ,
I might cop one near the lake...
Home      
  
 

 






most viewed right now
 55
Image(s) inside Houston Better Stop Playing With Me 😩
42 comments
19 hours ago
@thotsdimesetc
most viewed right now
 52
Image(s) inside Thread worthy Cute thick Latina
19 comments
19 hours ago
@thotsdimesetc
most viewed right now
 48
Video inside 2 Arrest Made in The Murder of Rapper Chinx
125 comments
22 hours ago
@hiphop
most viewed right now
 34
Image(s) inside Lawyer with big ass t1ttys
101 comments
19 hours ago
@thotsdimesetc
most viewed right now
 27
Star Wars Last Jedi Spoiler review
42 comments
2 days ago
@movies
most viewed right now
 27
NBA CHARLES BARKELY JUST PUNCHED SHAQ AND RAN FOR HIS LIFE :mjlmao:
59 comments
19 hours ago
@sports
most viewed right now
 20
Lil Duval with the joke of the year
50 comments
21 hours ago
@wild'ish
most viewed right now
 19
Image(s) inside Michael Blackson comes for Kevin Hart, t.i. Comments
162 comments
22 hours ago
@hiphop
back to top
register contact Follow BX @ Twitter Follow BX @ Facebook search BX privacy