Read a story about Detroit’s $500 houses, there are strings attached, such as back taxes. Taxes average around $7,000 to as high as $32,000. The houses have been stripped of everything can be sold, meaning new wiring,plumbing and a security guard 24 hours to stop the new being stolen again.
yep... I saw on trulia, many Detroit foreclosed mansions, with beautiful wood floors, marvelous main staircases, big lots, 3 to 4,000 sq ft.. $130,000 with back taxes due of over $100,000... add in all the stripped plumbing, stripped wiring, these all look to have very old furnaces.. you are looking at quite a bit of money..
still a good deal, except for the neighborhood, which squelches it.. agreed that you would need armed security.. And I thought of later, when all work is done and you have moved in, with a constant gun under your pillow, and if you are in the back yard, you are packing... etc....
no way to live.. too bad... I’ll take a smaller house in a nice neighborhood, thank you.