Quote:
Originally Posted by lio45
I believe the entire block (between the freeway service drive, Ellery, and Holborn) is for sale, but that's $50k asking price for both houses.
I think the vacant lot on the NW corner of Ellery and Holborn belongs to 3569 Holborn, but I'm not sure. (Does Detroit have public property records? That would answer the question.)
Zillow link showing the properties |
https://data.detroitmi.gov/Property-...-Map/fxkw-udwf
The vacant lot is separate and owned by the city. The other two properties are owned by the same guy. He also seems to own several other homes on the same street. Which honestly is the best route if you're going to invest - you're better off doing multiple properties in an concentrated area.
If anything, Detroit is a good place to learn real estate and, if you can afford it, won't lose much if things don't work out. That said, I have seen stories of people getting frustrated from underestimating the challenges of trying to rehab a house while also trying to make a living. Obviously if houses could just print money for people, the city's poverty rate would probably drop pretty fast.