UK Landlord Forum / Life

This rundown shack is selling for $1,500 in Detroit. I mean, it's probably in the middle of nowhere, and it would probably cost at least 5k to get that place up and running. But still....you can't even buy a garden shed in Moss side for that much these days.



Source: http://mjperry.blogspot.com/2007/08/buy-house-in-detroit-for-1500-monthly.html

Good find.
But, and its a huge but, looking at the posts relating to this topic on there board, you would need to be a right head case to buy it,  with it being in an area that time has forgot and even the police are hoooodiiiiesss.



Badger

Detroit is known for a high crime rate, and that shack right there is probably in some abandoned area where ppl only go when they feel like contributing to the 'murder' sector of the crime rate... creepy man... really really creepy.

This is what they where saying on there site, crime crime crime, without any government income coming in and there is likely never to be any, as people are easy to control when grouped together, this place is a no brainer unless you want to be used as target practice. gulp


Badger

Equally, for £3.50 a month, you could buy it as a purely speculative venture. Maybe one day someone will do you a favour and level it for free.

No doubt.

I would never buy anything like that for personal residential reasons. However, just to put aside £3.50 a month for a small gamble is probably in a lot of peoples best interest.

Better than a lottery ticket - at least with the "Detroit pad" you hold the land. It'd have to work hard to get any more run down, so chances are it'll rise in value with inflation - which is as respectable as a nice instant access savings account.