Fine, get shot but don't say Coastal did not warn you

No way in heck that city will come back in 10, 20 or even 30 years.
Pardon my french but it's a total $hit hole. You will need to bulldoze or nuke 100 square miles of war torn bombed out buildings before you even start to rebuild.

__________________
Coastal Delaware Real Estate Sales
REHOBOTH BEACH CONDOS | REHOBOTH BEACH REAL ESTATE | REHOBOTH BEACH MOBILE HOMES
* Results not typical. Individual results may vary.

That is what nearly everyone said about the Pearl District in Portland Oregon now do a search on the location. Similar things were said about Syracuse and Pittsburgh but now they are making a come back. Both used education and technology to begin their return. Pittsburgh had a better footing when it came to education and they have done a much better job transitioning.

Michigan has the educational repitation to pull it off! Not saying that they will though. Maybe we should consult Mark Z on this matter he may have more to say on the issue as the rest of us are just speculating.

It could be good, just be wary of what you're paying and understand the risks.

I'm working with a individual who has invested quite heavily in Detroit.

Some banks just want to get out of the D and dump their homes for a few hundred bucks (Look at how many homes are on Realtor.com under $1,000).

Yes, it's a warzone, yes it could get MUCH worse. If you've got a big pocketbook, I say buy a few, and try to get them profitable NOW, but save money for when/if things get signifiantly worse.

__________________
My Consumer Blog
How to get REO listings, BPO Company lists, and negotiate short sales FREE.
My RE Website built from Notepad!

Brandon E. Schlichter
HER Real Living
Circleville , Ohio
740-571-1606

I would buy a home for a $1 in 'Troit if the prices were right.

__________________
Just Living the Dream on the Beach
Outer Banks Real Estate
Sea Isle City Homes
Outer Banks

Actually I think same as well. Detroit is one of fast developing city. However, at present unemployment is a bit higher. But that can be work out, and moving to this city is always going to be adventurous. Think over it.

__________________
Feng Shui Master | Feng Shui for your home

I have seen some incredible deals in Detroit! Homes for $5k through a wholesaler local to the area; and they aren't even part of a package. When the investment cost is that low, it is hard to ignore; but because of the failing economy I would be careful about the average $25k home that is common through Craigslist. But a war zone; for sure! That's what they created property managers for; they are like the first platoon, I think they have a closet of bullet proof vests handy

You are absolutely right! The trick to being a success in real estate begins with lipo!!

__________________
Simmons' Realty & Golden Lily Properties, now a division of Gateway Realty

Solano County Homes For Sale
Forza Motorsport 2 Drifter/Racer

Now a days interest rate is too low and property prices are also affordable especially in Detroit. So it's a good time buying property.