Anyone want to buy a cheap house in Detroit? A fine investment....

[advancebooking]

For a laugh you should read the guardian newspaper clip re cheap 'buy to let' houses being sold in Detroit- uk investors are being caught out:

 

 

http://www.theguardian.com/money/2014/aug/02/-sp-beware-detroit-buy-to-let-property-marketed-uk-investors

 

You would have to be very stupid to invest in a buy to let in another country- without actually going to that country prior to doing the due diligence. It seems a number of idiotic uk investors put their trust in dodgy uk firms that facilitate these sorts of deals. They were offered 20% returns ha ha

 

I dont think I would even be game to purchase an I.P here in thailand. 

 

What are your thoughts?

 

 

[PoeDogg]

I seen a segment about 6 months ago where they were selling houses in Detroit for as low as $300USD.

Couldn't pay most people to live in that ghetto shithole.

[thrilled]

I wouldn't buy A house in Detroit to rent out,or live in.It's A dangerous place.You wouldn't believe what A heroin addict will
Do when he comes down and is getting sick.You don't have enough money to pay me to have anything to do with that city.

[rgs2001uk]

Isnt that one of the cities that is bankrupt?

 

Never mind the retired city officials will continue with their pensions while the suckers pick up the tab.

 

Read up on Kalifornia, thats another going nowhere fast.

[tinhead]

Buy? A friend opened a bike factory there and they gave him a home - same street as the mayor, apparently.

[PattayaPhom]

A house for $27,000...huh, the whole city is for sale for not much more...........Just waiting for the comments Patters will be the same once the Russian tourists stop coming

[JSixpack]

Be quite OK if you're into living heroically like the main character in the movie Omega Man:
 

Neville is apparently the only healthy man left on Earth. Struggling to maintain his sanity, he spends his days patrolling the deserted city of Los Angeles, hunting and killing members of "The Family", a cult of crazed nocturnal albino mutants caused by the plague. . . . At night, living atop a fortified apartment building equipped with an arsenal of weaponry, Neville defends himself from Family attempts to extract him from his home.
   --https://en.wikipedia.org/wiki/The_Omega_Man

[Suradit69]

A house for $27,000...huh, the whole city is for sale for not much more...........Just waiting for the comments Patters will be the same once the Russian tourists stop coming

 

And as with Pattaya, people who have never been there or only visited the seedier parts of town, make the whole place sound like the worst parts, which probably says more about their personal interests when/if they visit.

 

I agree I wouldn't jump at buying property anywhere without a personal inspection, and Detroit would be pretty far down any list of possible purchases, but there are parts of Detroit that are not run-down & blighted (see below), just as much of Pattaya is neither sleazy bars or reliant on Russian tourists for its existence. 

[theslime]

A few years ago, an Aussie house investor, went around to get the rent and was shot dead, thought he had a bargain US property.

[Aldebaran1981]

Hmmm Detroit is bankrupt? Why not ask Obama to invite the Chinese to buy up the city and let Detroit be colonized? It might be better for Detroit anyway. Those dimwit mayors are killing all the states


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