Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

33
Posts
4
Votes
Jivonna B.
  • Real Estate Investor
  • Clinton Township, MI
4
Votes |
33
Posts

Detroit Land Bank deed restrictions

Jivonna B.
  • Real Estate Investor
  • Clinton Township, MI
Posted

Hello, has anyone ever worked with Detroit Land Bank deed restrictions? The owner says that its a 3 year restriction, I've heard of landlords renting them out until the time is over but has anyone worked around a sale? 

Most Popular Reply

User Stats

4,055
Posts
5,817
Votes
Greg Scott
#3 Wholesaling Contributor
  • Rental Property Investor
  • SE Michigan
5,817
Votes |
4,055
Posts
Greg Scott
#3 Wholesaling Contributor
  • Rental Property Investor
  • SE Michigan
Replied

I'd be very careful.  Detroit bureaucracy is still a mess of red tape and poor record keeping (and possibly corruption).

I have a friend who bought a house in Brush Park, back when you could buy them for almost nothing.  He spent years trying to buy the abandoned lot next door.  He would take days off of work so he could talk to various people at the city trying to understand the process for buying it.  After 4 or 5 years of doing this he confirmed that the only way to buy it was at auction and he was on a list to be notified when that happened.  Not much later, he learned the city had sold it to some developer that was going to build condos ther.   Then he got a foreclosure notice because his neighbor across the street didn't pay the taxes on the property across the street.  That took 6 months to straighten out.

After all that mess, they decided to abandon their plans to live in the city.  They sold last year and moved out of state.

  • Greg Scott
  • Loading replies...