Quote:
Originally Posted by WiredGuy
Do these properties have large back taxes that you assume when you buy it?
WG
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Many do. Many are also in extremely bad areas. I was reading about how common arson is over there.
Be sure to check out the rental section at detroit.craigslist.org. Notice how so many are trying to rent out homes for $600 - $1000 a month. If it were such a good deal why wouldn't people buy instead? There's got to be a reason and if there weren't these landlords wouldn't even be bothering to try to rent their places out for so much as they'd know they would never be able to do it with decent homes selling for $1 - $500.