Lately, I've been asked my advice in regards to purchasing homes in the Wayne County Tax Foreclosure Auction. It's great way to purchase homes - I've bought property this way several times. The 2 things I would advise are to be strategic & to be careful for the following reasons:
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2 Family-Flat Property FOR SALE
Each unit includes:
2 BEDROOMS, 1 BATHROOM, KITCHEN, & LIVING ROOM
➕Also includes a 3rd floor and basement.
Close to New Center & 10 minutes to Downtown.
💛Full and vibrant block of neighbors.
💲35,000
🔗More info:
https://t.co/z9lJce9H2q
JUST LISTED🏡
North Rosedale Park, Detroit:
➕3 BR, 2.2 BATHS, Master Bath, Open Floor Plan and COMPLETELY RENOVATED!
💲220,000
Mortage Breakdown with FHA Loan:
Down Payment: $7,700
Monthly Payment: $1,300-1,400
(Varying Interest & Insurance Rates apply)
@Always_Doin_Me@ImtheMAINE This Neighborhood is an Enterprise Zone which means it gets a discount on taxes. Taxes are included in the figure. However, they are $1801 yearly.
Detroit is different🏡.
You can have a home that sold for $200k around the corner from a home that can only comp at $50k.
You must have an experienced agent that knows the city, so that you don’t make irrational financial decisions!
HOUSE HACK!
Buy a multi-unit or “2 Family Flat”. Live in 1 unit & rent out the other(s) & boom the home will pay for itself!
In Detroit you can find affordable 2 family homes; i.e. this one is $129k-your note would be no more than $900/month depending on interest rates!
Excited that the @ForbesUnder30 Summit is coming here to Detroit Oct. 27th-30th🙌🏾!
If you haven’t purchased your ticket already, use code “VALYNCIA” to receive 30% off your tickets😱.
https://t.co/GZV9VQPvVn
Make the best out of your living space!
This house is surrounded by many bungalows no larger than half the home. I assume they had an opportunity to buy the vacant home next door and they expanded instead of moving elsewhere. They improved their home & the block.
Well done🙌🏾
I do not think immense planning of the future is rational. Yes, set goals- write out & do what it takes to get there.
However, you can plan a pretty picnic but you can’t predict the weather! Preparing is more rational than planning.
Prepared for whatever Q4 may bring.