http://www.businessinsider.com/1-dollar-detroit-homes-2014-1
Click to watch Video about Detroit $1 Homes
OK here is my money making idea. I was thinking of buying say 2 homes in Detroit for $1. These homes for the purchase price would cost me $2 plus taxes and closing fee I might have to spend say $1000. for two homes at most (Maybe) I would fix these homes up at a low cost of say $5,000 for the two and since I have to live in one of the homes for a 6 month period ( as required by the city of Detroit) you know that I would fix up the home I have to live in a up a little bit better then the home that I would rent. But I would still try to stay under budget of $5000. Will you stop laughing already.
So your asking how much would I get in rent depends on the neighborhood, if it's a nice one $900 a month a not so nice one $400 at best. What would my renters be like well we all know if your neighborhood is not nice then getting a tenant to live in a not so nice neighborhood is a crap shoot, I like to gamble so I will take my chances on me getting a good tenant who will pay their rent on time( Please lord, Have you stopped laughing yet)) Most of these $1 homes are in the worst neighborhood but I feel for a $1 and a lot of hassle and some major hustling it might be worth it. Where in the U.S can you buy a $1 home?? This is one way to make money....So what are your thought???
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