I just read about the housing situation in Detroit. If I were taking a job in that city, I'd take my signing bonus and get 5% down mortgages on as many properties as my monthly budget could afford. And then sit it out for as long as was comfortable.
The market isn't going to stay depressed forever, and $30,000 homes (they're really that cheap—I checked) are a steal in practically every circumstance.
I probably wont do this, but good to know. maybe after the student loans are paid off.
Also, I wont be living "in" Detroit. I'll be out in the country in Pontiac MI.
Heh well, feel like making some extra cash on the side managing my entire neighborhood of rental properties?
I really can't imagine Raven hassling people for thier rent money in a low income area of Detroit. However, that doesn't mean that I wouldn't pay to see it.
Good—I'm the one charging admission.
i want profit sharing on this admission deal.
Hey, you don't get to partake in profit-sharing until I've named you a partner!