Detroit Dirt Cheap Houses Worth it?
I'm out of state but I’ve come across a bunch of houses in Detroit that start at $2,500.
Now, I’ll be honest, I don’t think any of these homes could be rehabbed even if with unlimited resources.
My question is about the land. With taxes and everything, the cost ranges are less than $50 a month.
some of the destroyed houses seems to be in decent neighborhoods, nice houses, lawns taken care of etc.
Do you think it would be worth it to own a few of these properties for the future? Tear down all the houses and start from scratch? How come no one is buying them? I would imagine this would be a great opportunity for investors with deeper pockets.
This question is for all but I would love to hear from investors in Detroit. Do you all have any in insight on this market?
-Ibrahim