Investments

I heard that also. one of the main reasons I dont want to invest into that.

 

but the owners from what I hear make a load of non-taxable CASH.

 

that can come back to bite you in the ass if you a lot of other legitimate income coming int.
you dont want to risk 10 bucks to make 50 cents.

 

http.www.buildingdetroit.org

Basically you buy houses that were seized by the city for taxes/blight/etc. Many need work, but they are so cheap it's damn near impossible to lose.

The banks won't loan to most people in that area which is a bonus for guys with CASH.

Come in with 500K.

Get a good couple contractors and a manager.

Set up with the Feds to rent them out Section 8. It is big business in Detroit.

I'm assuming you have a few secretary girls you can have handle paperwork for you. My mother does this for my gig.

Done.

I've lived outside Detroit my whole life and I can honestly say this new mayor and admin are really shaking up the old way things went to shit. Give it 5-15 years.

Section 8 rentals are solid down there and the Feds always pay.

Been looking into doing this myself but I want to pay my house off first before I start playing with money. My current business is solid and should have my house paid off next year. I'm 33.

I have a ton of good quality contractors in the building trades I have dealt with for years.

 

Section 8 is a fool's deal, man.

after all is said and done, the headache is not worth the hassle. not to mention the decrease in property value and tons of other shit.

 

I get calls from people wanting to sell me their section 8 rentals all the time. Every single conversation starts with them telling me how awesome Section 8 is. Followed immediately by me asking "if that is the case, why are you wanting to sell at 60 cents on the dollar?" Usually followed by all sorts of BS excuses.

 

Who pays for damages and up keep on section 8? The landlord right?

 

Give it to me to start a broadband technology SDVOB.

 

yup...evictions are also a lot harder.

 

Shit, that bad huh?

I guess those neighborhoods didn't get like that by accident.

I guess that is what you get when you deal with lowlifes.

I may have to re-think my next scheme.

1 year for a time-frame is pretty short.

Brothel would probably be your best bet.

 

Can take up to 2 years in PA if the tenant wants. Not as bad in VA, only 1 year to 18 months.

 

now compare that to regular rental properties.

 

Getting them out is a problem and their f@ckin' shit up is a problem BUT does the gooberment pay going rent rates? Or do they tell you what the rent will be?

 

If you buy the house for 2500, who gives a shit?

 

Did anyone suggest starting a motorcycle racing sanctioning body?

BIG BUCKS in that, I hear...

 

After long and careful thought, I would pay off some of Sheiks cars since I know that those payments are eating his lunch. I'm a real friendly fellow ya know.

 

yes please pay off my cars...just sign the checks to me. I will make sure the payment gets to the banks on time.

 

And what bank is that, the bank of Sheik? I'm sure you take out a loan when buying a new car...