Detroit Properties the good and bad and ugly

[NBAGOATS]

I'm sure theres a LOT of ugly. More ugly than pretty. I doubt theres any pretty. Just ugly. Bad and ugly.

[BigBleedinSteve]

Are there any restrictions on foreigners buying property in the states? I just thought about this recently but at the prices i've seen it looks like it might be worth buying a couple and doing them up for rent. Maybe to section 8 tenants......

[summitconsulting]

Avoid detroit like the plauge. City used to support 2 million, now has 700K. Its expected to drop to 500K in the next 20 years.

BUT, the surround suburbs offer fantastic returns. I own several houses in burbs within 2 miles of the City of Detroit, and average a 25% return. So there are a lot of great area's, and the start up costs are on par with detroit, with none of the risks

[volontewilliams]

I do not think you should give up on Detroit. The market is great and in 5-8 years you will wish you had jumped in.

Yes there are some sketchy parts to it, but come on...it's Detroit.

[Cdogpyjamas]

This is interesting. What part of Australia are you in? I'm across the ditch in New Zealand. I've been watching Sheas' videos about detroit property for a few months, but decided not to invest after watching so many detroit is crap videos. Everyone said I was crazy to even contemplate it.