A fan sent me an article about the real estate market in Detriot, where the average sales price is currently $6,035! What!!
It is interesting to me how these foreign investors think they are going to make money off of these properties. I have actually fielded a couple calls from them at my office, and they want me to tell them all about some nasty $7000 properties – properties with fire damage, bullet holes and no windows. Seriously. And they think they can be viable rental properties? Not to mention they are buying them site unseen, and after that I have no idea what they are doing with them and how they are finding contractors. Strange business, but I guess at least it is a good thing that someone sees some value in them.