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Anyone from Detroit?

Discussion in 'BlackHat Lounge' started by whodi, Apr 20, 2010.

  1. whodi

    whodi Junior Member

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    Im not, im from Chicago..... but Im interested in buying a condo there.... I know the city is going through some hard times right now but for $50,000 Ive seen some amazing condos for sale (and homes). Im only going to spend a 1/3 of my time there so I think a condo would be much easier to maintain.

    The only things I know about Detroit are:
    -Its close to Chicago, maybe 5 hours driving - (GREAT!)
    -Its got all 4 seasons - (GREAT!)
    -Its got all the pro teams (NBA,NFL,NHL,MLB)

    Thats it. Let me know if I can PM you some general, maybe dumb, questions about the Detroit area. Thanks
     
  2. angelas111

    angelas111 Jr. VIP Jr. VIP Premium Member

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    yeah, did you see dateline last sunday? detroit is horrible. they couldn't pay people to live there.
     
  3. wmitchell003

    wmitchell003 Regular Member

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    pm sent
     
  4. stang1101

    stang1101 Junior Member

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    I'm 60 miles north of Detroit. What parts were you looking at?
     
  5. whodi

    whodi Junior Member

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    Thanks for the PMs gang......

    I did see that Dateline special, and thats what actually made me look into it even more.

    Yes. We all know that the economy is tough there, but luckily, im in IM and would be doing nothing but bringing money into the city.
     
  6. dotthei

    dotthei Regular Member

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    Detroit is pretty bad man. I'd be worried for my own safety and health in that area.
     
  7. gb5000

    gb5000 Regular Member

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    Yeah, Detroit is pretty bad. I use to travel back and forth from chicago a while ago (had a nice little relationship up there at one time! :) ) And have seen its decline rapidly in the four years I've been back and forth there.

    Whodi, honestly, I would say if you get into the real estate game there, make sure you investigate the timing of your investment. Maybe do a little background work, see if they are planning any programs to revitalize the city and attract businesses back into the city (like Chicago did in the mid nineties, in which Daley wants it to be comparable to New York in terms of development!). If you can get in at the right time, you may get some tax breaks and whatnot on the back in, since they DESPERATELY need you business. Did I mention DESPERATE?

    Question: have you looked into investing into some of the redevelopment areas in the Chi? I mean, Imagine if you got a building on the near west side in 1999!! Might want to see if Daley is planning any more "restructuring"!

    Anyway, Good luck with that bro!