The house has complete fire damage, but is a great investment for someone who can turn it around.
haha how do you turn around a house with complete fire damage?
A realtor will tell you that house is a "fixer-upper."
I'd buy the properties just for the land, honestly. The land has to be worth something, doesn't it?
This situation in Detroit is going to make many millionaires in the future.
quote:I have a hard time comparing the two cities/scenarios.
Look at NOLA...there are parts that are being rebuilt that a lot of people had written off.
quote:I really wouldn't want to put my money in that city right now. I'm really just having a hard time selling myself on this. It just seems soooo far away from a turnaround. Is that really where I want to park money?
It might be a decade from now but Detroit will be a functional city again.
I have a hard time comparing the two cities/scenarios.
Is that really where I want to park money?