$1 Dollar houses in Detroit

do it baby

came here to post this

$1 house that gets sold with all the back-taxes and shit on it. That house would actually cost you thousands and thousands of dollars, the deal is for goy suckers.

That’s incredible about the taxes. Is there a minimum payment for propert taxes that accrues even after the place is underwater?

They should homeschool the kids. It’s not actualy that hard these days with the Internet.

When I heard "$1 home" I got excited until I heard about the property tax I'd have to pay. Without the property tax it would be a fantastic investment to buy 1,000 lots for $1k and simply hold the land. Detroit is eventually going to grow again...eventually.

I actually know several antifa that live in those, lol

The city quit attempting to collect taxes in these areas decades ago...

Never mind. I just remembered that the tax-assessed value of real estate is all that matters for the property tax mil rate calculation.

It’s still on the books. When the contracts which transfer the deed to your name take place, the city will be legal party and thus aware of you as a new assignee to the obligation of the payment of back taxes.

Well for starters the property may be worth nothing but they can assess it at whatever they like. For example in Baltimore there are houses which sit on the market permanently for around $10k, but they are considered worth $200-300k for tax purposes. The taxes come out to nearly as much as a mortgage on a normal house. Its just not worth it

Seriously how come no tech billionaire with money hasn't bought out square blocks of Detroits property and then set up a tech campus or some shit after remodeling and cleaning up goes on for the cheap?

Looks cool

Thanks. I’m new at real estate and forgot about the distinction between market and assed value. It’s bizarre to me that the two can be so entirely different, but then again, urban decay is a bizarre scenario.

there is no way Detroit will stay the war it is for the next 50 years yes but no longer than that why isnt anyone buying up Detroit for their children and grandchildren to be billionaires

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not gentrified enough yet, but it's coming soon. watch closely over the next 5 years.

Fallout: Detroit

Only because those places are filled with niggers.
If whitey buys up land, the taxman expects whitey money.

It wouldn't be cheap, I also read a lot of those houses would have to be destroyed and the land filled back in in very expensive ways. They're unlivable condemned properties and so old they're full of asbestos and other cancerous shit sooo

Oh god fucking RIP..

>several
As many as that. I wonder where the rest live?

It is mostly based on a false economy. The reason for people moving in is the low cost compared to the surrounding area versus the shit you will deal with living neck "deep in mud" as it were.

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Many of the $1 homes are land lease so you don’t own the lot.
If you could buy an elephant for $1 would you?
Also, niggers. Check jewtube for a nog who drives around MoTown with a cam rolling.

all of your grandchildren will ask why you didnt but up Detroit when you had the chance

>but
buy

This, my friends!

I seriously looked into moving there, but it’s just too shitty. High taxes, insanely high insurance rates, no services and garbage schools. The decent suburbs are already priced at or above average for the Midwest. If you have the skills to rebuild/renovate your own house without hiring contractors, it might still be worth it as a long shot investment.

>Its just not worth it

With the amount of niggers I wouldn't live there if they paid me.

For the record, $1 homes can have the back-taxes written off if you consistently can prove that you plan to repair and reside in the property rather than just flipping or holding the property for profit down the road.

kek quicken loans guy did just that.
I believe they try to sell it first at auction with the back taxes payable by the new buyer, and if it fails to sell there, it goes to a "free and clear" sale which means the taxes are written off and it just goes to the highest bidder.

Question because I don't know anything but have a lot of ideas. If you brought a lot of services to the area and beefed up the infrastructure and brought some skilled people to that area that were quiet collaborator types, would it increase that area's value?

Boomers want 800k for this.

They’ll grow up doing that in Alaska then. I’m a desert dweller now but will head to The Last Frontier within a few years to cool off.

I'd just tell them it's because there was nothing but niggers living there and nothing I could do about it.