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90k NEW house in the USA in a city!



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topics gone triple plat - Number 1 spot 3X PLAT




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 1 month ago '04        #1
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nwking  topics gone triple plat - Number 1 spot x3
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Props total: 21438 21 K  Slaps total: 2539 2 K
90k NEW house in the USA in a city!
 

 
visit this link https://www.redfin.com/MI .. /home/98538313

I know it's in Detroit but if you are young and complaining about you can't afford a house and you work remotely full time GTF up move to Detroit. Stack your paper until you can finder something in place you want to be and maybe this a*set turns into a rental for you offer time.

I know I hear the young people there's nothing to do in Detroit,choices in life sacrifices need to be made. I made mine in the early 2000s
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66 comments
 

 1 month ago '06        #2
illathruz 
Props total: 9237 9 K  Slaps total: 1990 1 K
This whole idea of real estate being the safest and most lucrative investment vehicle is a myth.

Nobody is making money buying a sh*thole in the middle of a sh*thole. If you bought that house cash $90k and you were the landlord, what would you charge rent. How much would you pay in property taxes and upkeep? How many years would it take to recoup just your initial investment? How many hours would you have to personally spend doing sh*t there?
+53   

 1 month ago '21        #3
Dreamcast 
Props total: 3664 3 K  Slaps total: 850 850
sometimes low priced new homes like those are under restrictions

like u have to have low income to get them

not saying this one is like that but just saying

u don't really get the full details until u talk to an agent
+10   

 1 month ago '16        #4
Vagabond 
Props total: 5851 5 K  Slaps total: 397 397
732 sq ft

You're really advising people to pay $90k for an apt sized home in Detroit?
+55   

 1 month ago '16        #5
HugheStone 
Props total: 12780 12 K  Slaps total: 2986 2 K
The best i can do is 30gs.



+42   

 1 month ago '10        #6
eightytyson06 
Props total: 20963 20 K  Slaps total: 1362 1 K
 illathruz said
This whole idea of real estate being the safest and most lucrative investment vehicle is a myth.

Nobody is making money buying a sh*thole in the middle of a sh*thole. If you bought that house cash $90k and you were the landlord, what would you charge rent. How much would you pay in property taxes and upkeep? How many years would it take to recoup just your initial investment? How many hours would you have to personally spend doing sh*t there?
i personally know a few of my bros and sis making bread in bad areas....they got put on to game and they either renting to people there prop management company brings them or va or section 8 and getting that easy govt check.

And its so many programs out there now you can put a few bands down and get that back in same year and finance the rest and then cash out and refinance and grab another property that next year and keep playing the game. And if you dont want to deal with the tenants my bro said his property management company charges him 8% of rent
+16   

 1 month ago '14        #7
BasedGawd  topics gone triple plat - Number 1 spot x6
Props total: 24817 24 K  Slaps total: 3574 3 K
That house is a complete ripoff at $90k.

That's a $55k home at best.
+29   

 1 month ago '20        #8
OhSoCalbo 
Props total: 4598 4 K  Slaps total: 3728 3 K
Want advice: sell dope
-4   

 1 month ago '04        #9
eddiefizzle 
Props total: 3812 3 K  Slaps total: 1623 1 K
holy sh*t I seen closets bigger.
+6   

 1 month ago '05        #10
ChickzNKickz 
Props total: 29898 29 K  Slaps total: 1986 1 K
732 sq ft is tough
+10   

 1 month ago '20        #11
MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7
Props total: 30839 30 K  Slaps total: 3236 3 K
slapped and stopped reading after Detroit
+3   

 1 month ago '19        #12
unit321  topics gone triple plat - Number 1 spot x16
Props total: 38804 38 K  Slaps total: 8433 8 K
Well, considering it is in Detroit, I'm not surprised.
I like to check Zillow out for price history



Tax a*sessment in 2020, $9400. It's tax a*sessment was $27929 in 2007 (the previous real estate bubble.)
$89,900 is kind of steep. I don't know how much the owner has put into the home.
Maybe someone bought it for $10,000 to $25,000 and fixed it up. Renovations look good. Looking at other homes that are for sale in the same neighborhood and of similar square footage, I wouldn't buy it. It might be worth $65,000-ish.
+7   

 1 month ago '19        #13
GetYaCoinsKing  topics gone triple plat - Number 1 spot x1
Props total: 43830 43 K  Slaps total: 7775 7 K
No one has ever said "theres nothing to do in Detroit", Its usually "Detroit is a crime ridden sh*thole" When the Police itself takes hours to show-up and you have mfs paying for private guerrillas and sh*t nah b.

Whats the point of having a dream home in the middle of a nightmare? You know how many junkies, envious people and criminals you're gonna have to deal with?
+15   

 1 month ago '15        #14
TayloredSince83 
Props total: 7451 7 K  Slaps total: 416 416
 illathruz said
This whole idea of real estate being the safest and most lucrative investment vehicle is a myth.

Nobody is making money buying a sh*thole in the middle of a sh*thole. If you bought that house cash $90k and you were the landlord, what would you charge rent. How much would you pay in property taxes and upkeep? How many years would it take to recoup just your initial investment? How many hours would you have to personally spend doing sh*t there?
You’d be dumb to buy any house cash that you want to leverage as an investment. The whole point is to let a tenant pay off your mortgage and hope the house appreciates in value over time. Real estate is the long game to wealth accumulation…folks are just accustomed to crypto and meme stock gains but that ain’t a long play. With that said…I wouldn’t buy sh*t in Detroit.


Last edited by TayloredSince83; 06-14-2021 at 09:43 PM..
+4   

 1 month ago '20        #15
HTownRealtor  topics gone triple plat - Number 1 spot x1
Props total: 1317 1 K  Slaps total: 164 164
Real estate is a great investment...prime example, just closed on a client who bought a 3 bedroom, small, cozy home in houston for 156k when she bought it for 116k....she got 42k back and applied it to a new home that she had at 216k which if things go well, it could go up to 240k in 5 ish years which would be great since her loan is 183k and she stands to take home good money....

even if she wanted she could rent it out for over 1500 dollars after she refinance her loan...basically, shes in a great position in life

now buying a home in detroit could be great if its in a area that will be generify or already has been....buying a home like this in the hood is just asking for problems....depends on the city...i'm in houston where everyone is moving out here vs detroit where people have been leaving for decades due to lack of jobs, schools shutting down and overall it has gone down hill from its peak in the 60s.....

be smart in real estate, study and ask questions...i'm always here to help out
+9   

 1 month ago '04        #16
Big Stuwop  topics gone triple plat - Number 1 spot x1
Props total: 24599 24 K  Slaps total: 5769 5 K
lol 90 k u could buy a whole block in detroit. maybe two.
+4   

 1 month ago '06        #17
new2hiphop 
Props total: 62263 62 K  Slaps total: 4223 4 K
 illathruz said
This whole idea of real estate being the safest and most lucrative investment vehicle is a myth.

Nobody is making money buying a sh*thole in the middle of a sh*thole. If you bought that house cash $90k and you were the landlord, what would you charge rent. How much would you pay in property taxes and upkeep? How many years would it take to recoup just your initial investment? How many hours would you have to personally spend doing sh*t there?
Y’all to these ppl
Dudes spending money on trash flip that money instead.

 1 month ago '08        #18
606robin 
Props total: 10953 10 K  Slaps total: 815 815
732sq ft...

Bruh you walk through the front door. You’re in the whole house...
+8   

 1 month ago '05        #19
CaShMoNeYDfG 
Props total: 2886 2 K  Slaps total: 109 109
Cuz a n*gga wear koufi it don’t mean that he bright
+8   

 1 month ago '21        #20
Note 
Props total: 1176 1 K  Slaps total: 162 162
That sh*t will be worth 5 to 13k in 3 years just like the rest of that sh*thole city
+1   

 1 month ago '15        #21
broward 
Props total: 4005 4 K  Slaps total: 95 95
I read the first 6 words in the post and immediately stopped.

+1   

 1 month ago '20        #22
Jaye85 
Props total: 1780 1 K  Slaps total: 128 128
 illathruz said
This whole idea of real estate being the safest and most lucrative investment vehicle is a myth.

Nobody is making money buying a sh*thole in the middle of a sh*thole. If you bought that house cash $90k and you were the landlord, what would you charge rent. How much would you pay in property taxes and upkeep? How many years would it take to recoup just your initial investment? How many hours would you have to personally spend doing sh*t there?
Not to mention homeowners insurance.
+2   

 1 month ago '04        #23
franchise  topics gone triple plat - Number 1 spot x3
Props total: 11845 11 K  Slaps total: 1020 1 K
This apartment sized house would cost 1.5m in the bay lol - especially with that nice a*s yard and sh*t
+2   

 1 month ago '04        #24
franchise  topics gone triple plat - Number 1 spot x3
Props total: 11845 11 K  Slaps total: 1020 1 K
 franchise said
This apartment sized house would cost 1.5m in the bay lol - especially with that nice a*s yard and sh*t

And it wouldnt be new obviously - itd be from 1920 lol
+1   

 1 month ago '04        #25
skillahmang 
Props total: 52245 52 K  Slaps total: 10902 10 K
 illathruz said
This whole idea of real estate being the safest and most lucrative investment vehicle is a myth.

Nobody is making money buying a sh*thole in the middle of a sh*thole. If you bought that house cash $90k and you were the landlord, what would you charge rent. How much would you pay in property taxes and upkeep? How many years would it take to recoup just your initial investment? How many hours would you have to personally spend doing sh*t there?
Gentrification is your friend.
+2   



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