Quote:
Originally Posted by animatedmartian
Sure, if I had a couple million dollars on hand. Otherwise it's a negative investment all around.
One house isn't enough to raise the value of land and assuming you get some sort of financing without any tax subsidies, you'll be in a whole bunch of debt by the time those 5-10 years pass. There's no way that Detroit's overall land values would be able to rise that fast for you to just break even because of the sheer volume of vacant land there is available to develop.
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you really need a couple million?
see this area (
just west of woodward)
seems some cheap stuff close to franklin blvd; very close to woodward also.