I am coming to Detroit to purchase lots and and rentals.

[usroute10]

YW7350, the gentrification of Downtown Detroit and some of the surrounding neighborhoods has almost ground to a halt, due to the poor economy and poor state of the city (high crime, high taxes, no rapid transit).

There are a quite a few vacant lots in the Midtown area and the east Riverfront area. Those areas have great potential, and would be re-developed if not for the near melt-down of the Michigan economy (auto bailout). Those southwest side neighborhoods which are mostly Mexican are pretty well occupied and stable, making it good area to purchase rentals. Also, in the historic neighborhoods of relatively, modest-sized homes, such as Rosedale Park, Grandmont, and East English Village, you might find some nice houses that need some work for $20,000. They would make good rentals.

About the improvement zones. I don't know what exactly about what you are talking about. There are NEZ - Neighborhood Enterprize zones - where property taxes are lowered by up to 33%, but that only goes for OWNER OCCUPIED houses (I think).

In the 1990's there were some other type of "improvement zones", but I think those dealt with brownfield sites.

[ocean2026]

YW doesn't listen to reason.

Rmax yes I know some mansions go for less than $20 a sq ft however even $50 a foot would have made my point had yw been a rational person. Let him buy those cheap lots and see who wants to spend $100 or more per sq foot to live in those neighborhoods.

[and the]

and the .. at least knows his city,, although I don't agree with his prognosis.

I don't necessarily think the prognosis is so great, although there will still be money to be made. Not by buying mansions in Detroit though! Replacing a few squares of 15 year shingles is one thing. Replacing a few squares of slate on a 12/12 roof is something else entirely.

[Mitchy_Chick]

Originally Posted by and the

I don't necessarily think the prognosis is so great, although there will still be money to be made. Not by buying mansions in Detroit though! Replacing a few squares of 15 year shingles is one thing. Replacing a few squares of slate on a 12/12 roof is something else entirely.

If you do need roofing though, I had mine done by Absolute Comfort and they did a fantastic job at a great price. I'd call around and get quotes before you hire anyone but I really liked them. I found them on craigslist. Good luck!

[zthatzmanz28]

Originally Posted by YW7350

Can anyone tell me what are good locations. Also, why are the taxes higher than the property?

We will sell you our place reasonable...It sits on 4 lots...ready to split and set up a modular..have two rental...

PLMK.