WAP
Go Kart Champion
Good call. Plus, Dan Diego. High 60's, low 70's year round...
8
This is what you can look forward to after spending a million
- Thread starter maxtdi
- Start date
Good call. Plus, Dan Diego. High 60's, low 70's year round...
PetrolHead
When's the next track day
Meanwhile, in Detroit
http://www.zillow.com/homedetails/131-Arden-Park-Blvd-Detroit-MI-48202/88358724_zpid/
Edit: More photos here: http://detroit.curbed.com/archives/...d-65k-for-this-foreclosed-detroit-mansion.php
http://www.zillow.com/homedetails/131-Arden-Park-Blvd-Detroit-MI-48202/88358724_zpid/
Edit: More photos here: http://detroit.curbed.com/archives/...d-65k-for-this-foreclosed-detroit-mansion.php
Desert MVIGTI
Go Kart Champion
^^^^^
A vast money pit, but at that price, how far wrong could you go?
A vast money pit, but at that price, how far wrong could you go?
Desert MVIGTI
Go Kart Champion
I will give you this on Detroit Rock City, Chris. Most places that have really cheap houses...."the blessed lands", according to one dude on here....^^^^whatever that means....are rural, meaning there's nothing to do, no restaurants, no intellectual stimulation anywhere in sight, no decent jobs, no fucking hope, and definitely no architecture.
In Detroit? Auto industry jobs, good food, and mansions for 90% off. And the great lakes are right there brah. I commend your decision....it's interesting.
I'm not sure what you'd do if you had kids in terms of school, that's the only thing....and I'm not trying to go down that road again.
Anyway, it's an interesting DINK option for sure.
In Detroit? Auto industry jobs, good food, and mansions for 90% off. And the great lakes are right there brah. I commend your decision....it's interesting.
I'm not sure what you'd do if you had kids in terms of school, that's the only thing....and I'm not trying to go down that road again.
Anyway, it's an interesting DINK option for sure.
georgy
Ready to race!
Assuming 70k to 1mm over 30 years:
Just over 9.25% per year...during which time the stock market returned what...?
PetrolHead
When's the next track day
Figure about $100k to get it up to par, it's still $165k for a mansion built when they didn't know what "cheap" meant. There's houses like this all over. Even our mini mansion built in the early 30's is of way higher quality than anything you could get new.
My wife and I looked in this area before buying our house. We just didn't want something so gigantic. Unnecessary for us.
That's what drew us here. Plenty of high paying work(I make more here than I did in SoCal), TONS of stuff to do, ridiculously cheap living, a lot of nature and "getting away from it all" within an hour drive. You really can't go wrong. I love this place dearly.
We discussed what we'd do if we ended up having kids, and honestly private school is a very legitimate option. One of the best private schools in the state is a mile away from our house (yes, in Detroit), and while the tuition is high, the amount we saved on our house, and will continue to save in interest, taxes, etc would more than make up for it. You can also pay to ship your kids to better districts should you really chose, so there's good options for families as well. Our neighborhood has quite a few families, and they all just take their kids to private school. The kids are all polite and nice, so the environment doesn't seem to be screwing them up.
PetrolHead
When's the next track day
Yea, stupid cheap living here. The polar opposite of SF. I can't believe the house in the subject of this thread sold for $1M. That thing is abandoned tear-down status here. Our house would be $5-$6M easy there. Sad.
PetrolHead
When's the next track day
The unemployment rate is high because the vast majority of residents are low to no skilled, uneducated, lazy people. If you're smart and educated, there's tons of jobs here.
Violent crime is high because all those unemployed people just mess with each other, but it's rarely random. I've never been hassled, and I drive and walk through sketch areas. Don't be an idiot, don't act like a victim, don't get involved in any business that isn't you're own, and you'll be fine. It's just like any city...but the criminals just criminalize each other. My neighborhood is one of the safest in the surrounding areas. It's actually more dangerous in areas outside of Detroit. You don't shit where you sleep and what not.
D Griff
Go Kart Champion
That thing is pretty epic, straight up mansion. Looks like a night mare money pit in renovations though.
Private school for sure if I had kids there.
$100k? I bet more like $600k+.... I mean every one of the probably 25 rooms in there would need to be redone and everything like plumbing and electrical is probably way outdated and not up to snuff, there would just be so much in something that big. Still though, it's a sweet castle for the money, no doubt about that. I couldn't do somewhere so cold though. The ghetto factor I'm sure could be worked around if you're smart about it, you and your wife seem to have a good handle on that.
maxtdi
Go Kart Champion
I get that ... but it is still a gamble if you're surrounded by such lovely people, in a city that is bankrupt and doesn't fund it's police force
I mean I get it ... there are lots of great places around for cheap, but it is a bit of gamble living there. An ever decreasing population makes it a really difficult place to live.
Raising a family there is surely bound to be frighting.
Random side question where do "normal" ppl hang out at night?
Desert MVIGTI
Go Kart Champion
That has been my thinking for the last decade. However, I gotta, say, your example and Chris' example....are at such extreme variance that I'd have to pause and think.
That MV place you listed has to be a total teardown. A million bucks for a teardown shack on a small lot....I'm not sure that's sustainable even close to all those tech jobs.
Anyway, Chris' stories continue to fascinate me. He and his wife can't be the only upwardly mobile couple who share his view of Detroit as a good investment.
Which is cool, because the place has really been sad for a long time.
Desert MVIGTI
Go Kart Champion
I'm with Dan-O on this one. You're dreaming at 100K.
D Griff
Go Kart Champion
I'm thinking his wife must be the coolest chick on the planet to actually want to move there, try all that out, drive manual, etc.