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Old 06-28-2009, 07:55 AM
 
Location: Detroit
206 posts, read 421,350 times
Reputation: 58

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Quote:
Originally Posted by johnsonkk View Post
What pros are you aware of that makes it seem like a great idea to invest right now? There are over 800 homes for sale right now for under $5,000.
Very true. There are many vacant rental homes that have been sitting for months now that have yet to get any tenants. I'm talking about the suburbs also. Some other investors had the same idea to buy up and rent out houses, but look where they are at now. Maybe you should think of some other business idea. It may seem hard to do in today's economy, but doing some research just might help.

Good-luck. I mean that.
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Old 03-08-2013, 11:24 AM
 
Location: Canada
6 posts, read 7,334 times
Reputation: 10
well i don't get why every one talks so bad about detroit is bad place to invest i visit very much and if you know anything about detroit most people don't want to move out of the area so renting a house close by to them is amazing to them and they jump on it i have 20 houses in detroit and making 18% on ROI i can not complain houses with renters already in them or being lined up to be in it through section 8
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Old 03-09-2013, 12:10 PM
 
7,358 posts, read 11,047,441 times
Reputation: 8923
It depends on what you're looking to invest IN. If you're a house flipper, you may have a very long wait to sell those places. If you want to be a landlord, well, there are always some takers, but the Metro area is strikingly empty of warm bodies right now and people who want to shoip for a bargain can call the banks and find a $500 foreclosure property -- paying less than they woulkd if they rented.
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Old 03-12-2013, 05:51 PM
 
Location: north of Windsor, ON
1,901 posts, read 5,613,108 times
Reputation: 654
Quote:
Originally Posted by nicet4 View Post
This is a joke, right?

You do realize the city of Detroit does not have a single grocery store left inside the city limits, right? Not a single one, the best you can do is an all night gas station or 7-11.
Absolutely not true. There is still a Super K Mart within city limits, on Telegraph between 7 and 8 Mile. (Last time I was in there, they were charging more than suburban stores.) Aldi is also represented in Detroit and Highland Park, as is Save A Lot in Detroit. I can think of four of those off the top of my head. There are multiple Krogers within walking distance of the Detroit city limits, too.

//www.city-data.com/forum/detro...es-invest.html

In this thread I gave a list of Zip Codes where single family dwellings are cheap to fairly cheap. Suburban property taxes are usually cheaper, which is important on investment property, as MI sticks it to landlords.
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Old 03-27-2013, 08:43 AM
 
Location: Canada
6 posts, read 7,334 times
Reputation: 10
by the state fair grounds the meijers is almost done and putting a old navy and other stores so will help out alot better
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