All Forum Posts by: Aaron Yates
Aaron Yates has started 47 posts and replied 625 times.
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Account Closed:
Can I ask why you want everyone's opinion instead of fact?
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Tom A.:
If you know the city then you know it's the size of Boston, San Francisco and Manhattan combined. It's not one monolithic neighborhood and it never has been.
Some areas clearly have momentum. There are areas where rentals are hard to find, waiting lists abound and landlords with desired properties have increased rents from $1100/mo. to $1500/mo. in one year.
There are other areas that are bad and getting worse. And then there is the urban prarie, the land that was occupied by many of the 2 million people who lived in the city in the 50's, that's now vacant and fallow.
There's not just one story of Detroit, or one future trajectory. Like many cities, Detroit real estate is neighborhood by neighborhood.
We can discuss the city's overall finances, or mass transit, or the local economy and refer to "Detroit" as one entity, but when looking at a "potential turnaround" you better specify the neighborhood or even the cross streets.
Oh my god.... THANK YOU TOM.... I was going crazy here replying to the closed minded people here. I can't even get through the post yet without responding....
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Scott McMahan:
WOW.... this is the exact opposite from what John D Rockefeller said...
But who was he right...
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Scott McMahan:
What concerns me going forward is how one dimensional the economy remains. Optimists like to point to growing services and seeds of tech startups but the economy is still primarily dependent on producing vehicles that utilize the combustion engine. Decentralization is a trend in almost every industry - where smaller players innovate and transform an industry, opening doors for other smaller players to compete. As technology continues to evolve for improved electric motors and storage, the combustion engine will eventually become obsolete and there will be significant disruption in the automotive industry. I'm not an industry insider, but I don't see that the big three or any of the small, medium, and large manufacturers are preparing adequately for that disruption. I hope to be wrong about that.
I took my kids to the Detroit Historical Museum a few weeks ago and it's amazing how much business innovation was happening in Detroit from the 1890s through the 40s and 50s. That innovation and business leadership made Detroit a great city. What new, big employers have been born out of Detroit in the last 50 years?
In order for Detroit to turn around, it has to attract entrepreneurs and employers. The opposite is happening now.
I agree that the highest and best use of most of the vacant lots in the city would be farmland. But what farmer would trade the wholesome environment of a rural farm for bullet dodging in the city? Farmland in Michigan is widely available and relatively inexpensive.
All that said, there are some wonderful things about Detroit. Lake St. Clair and the Detroit River are beautiful. Downtown is pretty awesome. If the population of Detroit could overcome its heavy liberal and entitlement-oriented bias and demand conservative, fiscally sound, and business-friendly policy that encourages business innovators to come to Detroit there could be a renaissance. Not in five years though.
Where are you getting your information from? I'm in the auto industry here in Metro Detroit and travel due to this. Most automotive is STILL based from Michigan. You have no idea what you are talking about in regards to the combustion engine and the technology at hand here locally in Detroit and the metro areas.
This is why so many people are misinformed. They believe everything the news and reports tell them. They never listen to us that are physically in the industry.
Yes many manufacturing jobs have left Detroit. I think somewhere in the area of 50% from years ago. But many things are coming back in Detroit and Metro Detroit in regards to manufacturing, automation, movies and more. I don't even research this and I come across this on a normal basis.
How come no one talks about the new Mayor of Detroit, Mike Duggan, who was an outsider tired of seeing the BS. The first 'White' Mayor in Decades who prior to this has created nice areas for people to live, turned around an almost bankrupt hospital, the guy who won as a 'write-in' candidate. The guy who won after 2 recounts and had more votes each time... oh wait, I know why... it's not 'bad news' so it's no news.
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Account Closed:
It seems as though areas closer to downtown where all of the investors are are very hard to find properties to wholesale or that are even up for grabs without a major name or being a realtor. Any advice?
Yeah... IGNORE EVERYONE who is not local and not truly knowledgable about Detroit.
Investors are making money their. But you will not see them on here bragging. You think they want everyone knowing where they are making a killing?? Come on..
Hell even in my market. I know some investors who are literally millionaires in my market and they NEVER talk about it on here. When I do, people think I'm lying. At least @Lisa Phillips finally got through and was able to get a podcast for her market which is very similar to mine and how I work.
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Scott K.:
Originally posted by @Jerry W.:
I go to those vacant houses everyday. I drives me crazy when people think Detroit is making a comeback. They have no clue what they are talking about. You can't change the culture of violence. Every house in Detroit gets stripped even when people live there. They have made tools to get the siding off houses in 3 mins. I have seen it myself.
You should quit going to the Eastside. Educate yourself some more and expand your driving.
Just a suggestion.
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Jerry W.:
Of course work can create an issue. But the biggest problem?? Residents don't care. I personally see this and have a tenant who works for the city and has for 10 years now. He sees the good and bad. It's not just the city, its the residents as well who create this issue.
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Account Closed:
This is a great asset you have. I personally was looking for this last summer when I had some cash to invest. People like you who still live there and see people 'staying' in Detroit is what is needed to help outsiders like me.
I am out of cash right now but still have the ambition to go into Detroit at some point. The issue is that the news only shows the warzones... and yes the Eastside somehow is the main area that gets reported... due to murders, crime, poverty...
Why? Many residents don't care. They don't say what they saw. Instead the criminals control the area. This is the area I was laughed at by the cops. I am white, was in a run down, burnt down neighborhood with a white car at 11pm at night. I was scared shitless...
I use to live at 9 and van dyke and became very familiar with the 8 mile line.
I called my friend from the Westside. He even asked me WTF I was doing there... In any case, he came out... I had no issues even before he arrived and maybe that's cause people thought if I was crazy enough to be there that they shouldn't mess with me. In any case, I truly believe that things escalate based on the situation and your response.
At one time in my life I was living by St. Josephs Hospital off Woodward in Pontiac. Not the greatest area back in 1998. I had to walk past the hospital, through the neighborhood all the way to telegraph to Chi-Chi's restaurant in the early evening then back at 2am in the morning. It was not a 'white-welcomed' neighborhood. Still, the only problem I had was some heckling. The people who had real issues didn't have the common sense to keep their mouth shut and just keep walking.
I personally have seen the same in Mexico City which FAR surpasses the danger of Detroit. But I survived their as well.
So everyone needs to get over the bad publicity of Detroit and move on.
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Scott K.:
I called 911 today it they didn't even try to send help to me with a guy that pointed a gun at me. That is the Detroit you will be dealing with.
Also good luck with getting permits.
I personally had the police laugh at me back in 2006 when my car broke down. 3 tow companies either not come or just drive by.
Why??? because residents dont' care. It's not just the city officials or the police. It's a combined effort.
Why is sherwood forest so thriving? No crime? No BS? Because the residents care. They got tired of the BS.They pay for their own security company to patrol. They paid to have curbs put in to prevent people cutting through their neighborhood. They take care of their lawns, their homes.. THEY CARE.
When you get residents to 'Care' in Detroit, then that neighborhood can come back. Leveling the properties will move the careless people out. Allow for new developement and bring people who 'Care' back into the city.
Of course this won't happen over night. It will take years. Look at the size of Detroit. It can be split into multiple cities within itself. But people would rather bash on Detroit than think positive and understand that its essentially a world in-itself.
Post: Who thinks Detroit will turn around within the next 5 years?

- Investor
- Macomb, MI
- Posts 654
- Votes 115
Originally posted by @Ryan R.:
MANY things factored in to the current state of Detroit. Unless you live there you truly can not understand what happened or the ripple affect of the auto industry crash in 2008/2009.
So you and everyone else that states their 'opinion' on Detroit truly means nothing. No disrespect to you, but this is something that drives me crazy. I know @Account Closed was asking for opinions, but how can anyone not at least within proximity of the city or in Michigan give any real opinion?
All you have is what you see on the news. And as stated previously, that's only what people want you to see. There is so much good news EVERYWHERE in our nation but that's not what people want to hear or see.... WHY???