watson Posted August 1, 2013 Share Posted August 1, 2013 http://www.businessinsider.com/15-houses-you-can-buy-in-detroit-for-500-or-less-2013-7 $500 $70 TRAP HOUSE [url=http://www.businessinsider.com/15-houses-you-can-buy-in-detroit-for-500-or-less-2013-7][/url] Quote Link to comment Share on other sites More sharing options...
bigdoughnut69 Posted August 1, 2013 Share Posted August 1, 2013 $570 for two Traps?? I need a 30 year note on each. Quote Link to comment Share on other sites More sharing options...
Walid Jumblat Posted August 1, 2013 Share Posted August 1, 2013 Buy it, level the house, sit on the vacant block for 20 years. Quote Link to comment Share on other sites More sharing options...
Shittles..TasteTheAsshole Posted August 1, 2013 Share Posted August 1, 2013 baby got back Quote Link to comment Share on other sites More sharing options...
eviltrailer77 Posted August 1, 2013 Share Posted August 1, 2013 Buy it, level the house, sit on the vacant block for 20 years. My wife is from Michagain, and a couple of her cousins where looking in to doing something like that. Salvaging the old school millwork and copper, then doing demo and sitting on the empty land until it's worth something. BUT: Most of those places have back taxes due, and even if they don't the annual tax rate on the property is more than it's worth. The copper is all gone (crackheads) and most of the millwork worth anything has been destroyed, so no profit there. Then most of them are riddled with asbestos, the removal of which is ridiculously expensive. Even if you do get it razed, they have full basements, so it's an open pit you are liable for. Plus ain't no construction/demo crew going in those areas, shit when they went to look at some the realtor wouldn't even take them to see them. Met them at a near by shopping center and gave them a printed out map and told em good luck. Quote Link to comment Share on other sites More sharing options...
MedicineCabinet Posted August 1, 2013 Share Posted August 1, 2013 1 Quote Link to comment Share on other sites More sharing options...
theprotester Posted August 1, 2013 Share Posted August 1, 2013 Don't buy a house in Detroit and save $500. Quote Link to comment Share on other sites More sharing options...
RIPS Posted August 1, 2013 Share Posted August 1, 2013 Quote Link to comment Share on other sites More sharing options...
Rolf Harris Posted August 1, 2013 Share Posted August 1, 2013 I hope those hooses are well insulated... Because i heard it's very cold there... 1 Quote Link to comment Share on other sites More sharing options...
BELTOLEUM Posted August 1, 2013 Share Posted August 1, 2013 Yea, until the trap next door knocks on yours with some metal sayn you cnt be here I doubt the neighborhoods will even change in 20yrs Quote Link to comment Share on other sites More sharing options...
theprotester Posted August 1, 2013 Share Posted August 1, 2013 I'm just glad this article was aimed at me. Quote Link to comment Share on other sites More sharing options...
RIPS Posted August 1, 2013 Share Posted August 1, 2013 http://www.businessinsider.com/buying-cheap-property-in-detroit-2013-7 This Is For Everyone Who's Thinking Of Buying One Of Those $500 Homes In Detroit Quote Link to comment Share on other sites More sharing options...
Gat Bush Posted August 1, 2013 Share Posted August 1, 2013 A friend of mine that I grew up with bought a square block in Detroit for like 25 grand. I'd say the biggest downside of buying a house in Detroit would be living in Detroit. Quote Link to comment Share on other sites More sharing options...
Walid Jumblat Posted August 1, 2013 Share Posted August 1, 2013 BUT: Most of those places have back taxes due, and even if they don't the annual tax rate on the property is more than it's worth. The copper is all gone (crackheads) and most of the millwork worth anything has been destroyed, so no profit there. Then most of them are riddled with asbestos, the removal of which is ridiculously expensive. Even if you do get it razed, they have full basements, so it's an open pit you are liable for. Plus ain't no construction/demo crew going in those areas, shit when they went to look at some the realtor wouldn't even take them to see them. Met them at a near by shopping center and gave them a printed out map and told em good luck. http://www.businessinsider.com/buying-cheap-property-in-detroit-2013-7 This Is For Everyone Who's Thinking Of Buying One Of Those $500 Homes In Detroit Dang. Shit is about as bad as it gets there. Having to pay the taxes owing on a property like that pretty much condemns it to only ever being a liability. What a mess. Quote Link to comment Share on other sites More sharing options...
Inappropriate_Responder Posted August 1, 2013 Share Posted August 1, 2013 meanwhile in the D FAKE REAL COPS ROB REAL BROKE CITIZENS http://www.myfoxdetroit.com/story/22949343/breaking-news-police#ixzz2aJMSYmc6 It is alleged the two sergeants pulled up in a black pickup, got out of the truck with their guns drawn and their badges around their necks, detained two young men in their early twenties, searched them and pistol-whipped one of them, stealing his wallet and cell phone. The other alleged victim told police they also stole his money. Quote Link to comment Share on other sites More sharing options...
eviltrailer77 Posted August 1, 2013 Share Posted August 1, 2013 All those dudes torching the abandon houses aren't just arsonist or psychos. Turns out they are performing a valuable public service. Quote Link to comment Share on other sites More sharing options...
nappydugout Posted August 1, 2013 Share Posted August 1, 2013 Quote Link to comment Share on other sites More sharing options...
RIPS Posted August 1, 2013 Share Posted August 1, 2013 Quote Link to comment Share on other sites More sharing options...
sexcauldron Posted August 1, 2013 Share Posted August 1, 2013 Buy it, level the house, sit on the vacant block for 20 years. I actually own several properties in Detroit for this exact reason. Real talk. Quote Link to comment Share on other sites More sharing options...
sexcauldron Posted August 1, 2013 Share Posted August 1, 2013 BUT: Most of those places have back taxes due, and even if they don't the annual tax rate on the property is more than it's worth. The copper is all gone (crackheads) and most of the millwork worth anything has been destroyed, so no profit there. Then most of them are riddled with asbestos, the removal of which is ridiculously expensive. Even if you do get it razed, they have full basements, so it's an open pit you are liable for. It's not that bad, you can purchase whole blocks by cutting a deal for the back taxes, you just have to know how to deal w/ the blacks who have simply no interest in doing business any sort of legitimate or reasonable way. But yes, all must be razed/filled and preferably owned as LLCs. The property taxes suck but aren't more than the property is worth (certainly more than the house, but not the property). Dollar stores and non-profits have built structures on a proportionally minuscule number of my properties in the past ten years and the rent that they pay covers the expenses of owning all of the other ones. It's the long con so to speak but it's definitely worth it if you can sink the money into it. Quote Link to comment Share on other sites More sharing options...
!@#$% Posted August 1, 2013 Share Posted August 1, 2013 I actually own several properties in Detroit for this exact reason. Real talk. future slumlords of america :haha: Quote Link to comment Share on other sites More sharing options...
sexcauldron Posted August 1, 2013 Share Posted August 1, 2013 future slumlords of america :haha: Yea to soup kitchens, half-way houses, and small businesses :rolleyes: . Quote Link to comment Share on other sites More sharing options...
Shittles..TasteTheAsshole Posted August 1, 2013 Share Posted August 1, 2013 $20 or a hand job O.B.O. Quote Link to comment Share on other sites More sharing options...
eviltrailer77 Posted August 1, 2013 Share Posted August 1, 2013 It's not that bad, you can purchase whole blocks by cutting a deal for the back taxes, you just have to know how to deal w/ the blacks who have simply no interest in doing business any sort of legitimate or reasonable way. But yes, all must be razed/filled and preferably owned as LLCs. The property taxes suck but aren't more than the property is worth (certainly more than the house, but not the property). Dollar stores and non-profits have built structures on a proportionally minuscule number of my properties in the past ten years and the rent that they pay covers the expenses of owning all of the other ones. It's the long con so to speak but it's definitely worth it if you can sink the money into it. I think a big part of it was they weren't mentally prepared for the actual reality of it. They are from the TC area so that should give you an idea of how unfamiliar they are with "the ghetto" or "the blacks". Quote Link to comment Share on other sites More sharing options...
DSD666 Posted August 1, 2013 Share Posted August 1, 2013 48205, welcome to the terrordome. Quote Link to comment Share on other sites More sharing options...
vanfullofretards Posted August 1, 2013 Share Posted August 1, 2013 It's so weird to think all these homes once-upon-a-time had thriving families living in them. Quote Link to comment Share on other sites More sharing options...
LUGR Posted August 2, 2013 Share Posted August 2, 2013 It's so weird to think all these homes once-upon-a-time had thriving families living in them. Quote Link to comment Share on other sites More sharing options...
watson Posted August 2, 2013 Author Share Posted August 2, 2013 It's so weird to think all these homes once-upon-a-time had thriving families living in them. Quote Link to comment Share on other sites More sharing options...
injury Posted August 2, 2013 Share Posted August 2, 2013 It's so weird to think all these homes once-upon-a-time had thriving families living in them. Quote Link to comment Share on other sites More sharing options...
DRUNKEN-ASSHOLE-ONER Posted August 2, 2013 Share Posted August 2, 2013 I swear to god if I wasn't tied the fuck down I'd move to Detroit. Real spit, I been saying this for years that I wanna go there and bomb just to see my shit live. And I been saying it on here for years, long before all these writers from all over making the rounds there. I probably put the bug in most these niggas ears, but by the time I make it there it'll be hipsters and Starbucks on every corner and niggas in spandex jeans and Skrilex hairdo's reminiscing about how sweet it was back when they first moved there. Quote Link to comment Share on other sites More sharing options...
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