Someday that could be a very valuable piece of property
Definitely, it will be. It has already reached the point where I could profit from selling it.
I figured Detroit would recover, at least somewhat. I was willing to invest in that.
The property is unimproved so the taxes aren't that bad. That's why I had them razed.
I really, really like owning property. I own an absurd amount of it because I like it so much. I own business properties as well. The farm, the blueberries, and even the land that the franchises are on are commercial properties that I own. Commercial property can be pretty lucrative.
I guess it boils down to, "I like my money to work for me."
I think people can get into it even on a small scale. Maybe buy a rundown house, rehab it and sell it, and then flip a few more houses - or turn them into rental properties so that each one pays the mortgage for the next house(es).
It just takes finance planning, dedication, and some work ethic.
Yeah a lot of people do the rehabbing homes and selling them these days
Some folks seem to make pretty good money with it.
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