free houses?

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May-08-11, 08:38 PM
eoddom

free houses?

I'm completely new to this forum but i've been seeing alot in the media lately about houses going for next to nothing in detroit due to the fact that there are so many abandoned houses that no one is paying taxes on. I don't live in detroit nor do i plan on moving away from nyc...but i was wondering where I could get more information on obtaining these houses. I wouldn't mind getting 2 or 3 of them that are in "decent" shape and paying the taxes on them every year. Ideally i could do renovation work and make them liveable...and then offer them to people living in detroit at just enough a month in rent to cover the taxes every year. If you guys know where i need to search or anyone trying to get rid of homes let me know.
May-08-11, 09:04 PM
downtown_racine

No such things as free.
May-08-11, 09:13 PM
Mikeg

26-year-old Greg McNichols found out the hard way that it can be more than difficult to be a young, out-of-town landllord in Detroit. Maybe you could pick up his properties for next-to nothing from his heirs.
May-08-11, 09:16 PM
Russix

http://www.detroityes.com/mb/showthr...use-in-Detroit
.
May-08-11, 10:17 PM
English

Quote:

Originally Posted by Mikeg

26-year-old Greg McNichols found out the hard way that it can be more than difficult to be a young, out-of-town landllord in Detroit. Maybe you could pick up his properties for next-to nothing from his heirs.

Assclowns! I'm so tired of that element in the city... SO tired...
May-09-11, 06:31 AM
Maof

Quote:

Originally Posted by English

Assclowns! I'm so tired of that element in the city... SO tired...

i agree. hated to see that on the news. another blow to the city
May-09-11, 07:05 AM
eoddom

Oh wow that's crazy. The owner of one of our companies is originally from detroit...i've heard stories but its going to take alot of people wanting to help out to turn detroit around.
May-09-11, 07:14 AM
gazhekwe

Welcome to the forum, eoddom! It can be tough being an absentee landlord. The usual way is for rental properties to deteriorate with careless or malicious tenants, and lack of perceived value to induce improvements and good repairs. In addition, before buying and during ownership, you must take care to inspect each property to assure you know what will be needed to bring it up to living condition and keep it there. Detroit is rife with scrappers, who will get into vacant properties and take everything, down to the pipes and wiring. There can be a lot of water damage due to our climate, as frozen pipes burst and the flowing water is ignored. That all being said, there is also a good side to property ownership, and a lot of people seem to be ready for it and do well. Just keep your eyes open and learn all you can.
May-12-11, 07:44 AM
coracle

Quote:

Originally Posted by eoddom

I'm completely new to this forum but i've been seeing alot in the media lately about houses going for next to nothing in detroit due to the fact that there are so many abandoned houses that no one is paying taxes on. I don't live in detroit nor do i plan on moving away from nyc...but i was wondering where I could get more information on obtaining these houses. I wouldn't mind getting 2 or 3 of them that are in "decent" shape and paying the taxes on them every year. Ideally i could do renovation work and make them liveable...and then offer them to people living in detroit at just enough a month in rent to cover the taxes every year. If you guys know where i need to search or anyone trying to get rid of homes let me know.

See "Abandon hope, all ye that enter...." thread for insight into the risks and rewards.