Just read this article about a Detroit man hanging in there and trying to make the city better. At the end of this story they throw in that they are demolishing 200 properties per day. That is crazy. thats like clearing out 5 blocks a day. This is why I question when people want to buy up these 500-5000 properties. This is why I laugh at people thinking that you can make money in these types of neighborhoods. There is no demand in most of these neighborhoods that these cheap properties are at. These types of properties are in a wasteland of the city.
Don't get caught up in the comeback city. The city is still losing people everyday. The same people that are looking to buy these cheap and worthless properties do not have the kind of money to buy into downtown or midtown. The downtown economic club is a tough nut to crack.
Is there money to be made in Detroit? Sure but not with these properties
But home depot and Lowe's loves this investor.. how many times do you think these companies have sold the exact same item for a particular home over the course of a short amount of time...
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