House for 1K

Yeah but where in Detroit. All it says is a "leafy" neighborhood. Shucks, drug areas and gangbanger neighborhoods have trees too. But, maybe for $1,000 you wouldn't care. I just read a post similar to this whereby an international investor bought a house in Detroit for $40k only to find out there were thousands in back real estate taxes and it is in an area where you have to pay someone to live in. Really depends on the location.

you have to be careful and do your due diligence to find these great deals.

I was in Detroit about 60 days ago doing a little research and looking around. It is amazing how you can go from the worst area in the country to a really nice, active area by driving 20 minutes! So much can be learned here. See what liberal government and labor unions can do to a once thriving area. See the extreme racial divisions in towns and neighborhoods. Then see what private sector businesses and individuals can do to revive the area.
Detroit itself is in the early stages of making a comeback, many of the suburbs are rocking right now.

Michael

The downtown is undergoing quite a renovation as well. Detroit is working hard to make a comeback. I have to say their idea of simply demolishing abandoned houses that are in poor condition is a great way to revitalize.

I saw sections of downtown being rebuilt, I also saw vacant 20 story office buildings. But they are getting a start anyway. The houses being demolished are falling over by themselves! Block after block! Vacant unless they are crack houses. Like I said 20 minutes from downtown in the suburbs is awesome. Not in the direction of Dearborn however!!

Michael