10 years ago
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15 Houses In Detroit You Can Buy For Less Than $500
Detroit's fallen on hard times. But we know you're familiar with that chestnut about crisis and opportunity. Here are 15 properties that are on sale for $500 or less.
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http://www.businessinsider.com
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Lets consider some of the "bonuses" you get when buying a house for 500 dollars in Detroit.
1. Peace and quiet. Its highly probable that you have another 10-20 abandoned/foreclosed homes around you, so no need to worry about those pesky neighbours mowing their lawn on Sundays, or partying it up at 3am.
2. You can film your own zombie apocalypse movie!
3. There is no annoying cops to bother you or the burglar next door..
4. Those back taxes are great, its like making a large donation to your favorite charity, in this case the city of Detroit.
5. Its a fixer-upper! Get out your tools and a checkbook, its a long and joyful journey to getting that home looking like a home!
6. Drugs just around the corner. No need for fancy drug stores, or any stores for that matter, your friendly neighborhood drug dealer is just a phone call or a shout away.
Shiiiit son, a detroit-based real estate business is calling your name.
SOLD! where do I sign?
I am sure that these houses have been stripped of all wiring, heating, pipes, etc...
Yeah and have a shitload of back taxes. Some are in neighborhoods that don't even have a police presence.
Yeah.. my first thought was that you're gonna need some pricey security for that kind of cheap house.
As I said in my other post, its a giant liability. That $400 house could cost you a ton more if something happens.
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I don't know a lot about real state, but if something costs 1% of the regular it's probably not much of a deal.
Actually the reason its so cheap is because of the liability of the houses. If a junkie decides to go get high and pass out in your newly acquired $400 and it falls down on him, thats a lawsuit.
So, these houses are definitely a terrible deal? Maybe you could buy one and tear it to pieces? ( I have approximately 0 clue about american real state)
how much in back taxes are on those abandoned properties? the state of MA refused to forgive back taxes and some of the cheapest properties became prohibitively expensive due to unpaid property taxes going back 10-15 years.