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$1000 Homes in Detroit
Episode 711
There's been a lot of headline news about Detroit, specifically that you can buy a home there for $1,000. The Detroit Land Bank Authority is trying to put run-down and vacant properties to productive use. As such, it is now auctioning off thousands of publicly owned properties through its public platform Auction— and the bidding starts at $1,000. To put that price into context, as of June 2019, the median home price in the Detroit metro area is $163,100. And as of April 2019, the city's median household income is $30,344. So is this a good idea? I thought it would be a good idea to bring in our Detroit full service property provider /property manager to tell us what's going on. www.RealWealthShow.com
Published on 6 years, 4 months ago