Investing in DetroitSubmitted by hector1986 on Fri, 12/27/2013 - 12:33
It's almost that time of year! The time when the government returns my currency back to me. In years past I have used this to chunk away at student loan debt, fix my car, and buy silver and gold.
Now that I have all loans paid off, my car tuned up, and little stack of silver and gold I am looking to diversify (into something real and tangible. Sorry, no bitcoins for me). I would love to buy real estate where I live, but it would take decades to save at my current wage at current house prices.
I was curious a few days ago and looked at Detroit real estate prices. They are extremely cheap. You can find lots for less than $1,000. There are houses for much cheaper, but since I don't live in Detroit and wouldn't be there to maintain (or protect) it I figured purchasing a lot would be a better choice for me.
While I'm researching, I figured I'd ask the DP community what they thought of this. Thank you in advance!