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Buying Detroit investment properties

If you are buying Detroit investment properties and hope to make money, it is buyer beware.  The home may have all of these items when you buy it, but you have a good chance of losing them if the house stays vacant.  There are so many Detroit homes that have been stripped of copper plumbing, electrical wiring, furnaces, water heaters, kitchen cabinets, and light fixtures.

How often do Detroit homes get stripped?  All the time.  I would say 90% of Detroit homes get something stolen out of them.  So if you are planning to buy a Detroit investment property plan on dealing with this.s

Here are photos of one home that had been stripped.

Detroit foreclosed homes 

Missing windows

                                               Detroit foreclosures

                                                       Gone is  the bathroom sink and cabinets

Detroit investment properties

No furnace here

       Detroit real estate investments

They cut all the electrical out for the copper all the way back to the fuse box!!!! 

    Detroit foreclosed homes

Kitchen is gone too!

                                                                      Detroit investment properties           

Hey if there is no kitchen or bathroom cabinets you don't need a water heater you might as well as steal the hot water heater.

Some items are very apparent when they are missing.  But when Buying Detroit investment properties you have to be very observant.... sometimes the plumbing or electrical lines have been cut and you don't see it.  So if you are buying Detroit investment properties - buyer beware!!!!


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    My quote of the day:                                                         

Don't be afraid your life will end; be afraid that it will never begin.
                                                                                                                            Grace Hansen
 



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Posted on May 30, 2010 @ 11:35 pm by russ.ravary - View Profile
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