Hello All,
I went back home last weekend and met up with an friend. He was telling me about a new investment he has in the works with a few other southwestern ontario/ michigan investors. What they're doing is buying up full streets of abandoned and empty lots for under $5000 a peice. Then they build smaller more affordable 2/3 bedroom and practical homes. I guess there are others doing this too?? Then they go and rejuvinate the whole block. I guess the idea is to they start out near the outskirts of detroit near more pricey suberbs and move inward. In some cases you can actually create home associations that are gated and secured. Just wondering if anyone has any experience at all with this. Just looking behind the curtain here.
Mike
I went back home last weekend and met up with an friend. He was telling me about a new investment he has in the works with a few other southwestern ontario/ michigan investors. What they're doing is buying up full streets of abandoned and empty lots for under $5000 a peice. Then they build smaller more affordable 2/3 bedroom and practical homes. I guess there are others doing this too?? Then they go and rejuvinate the whole block. I guess the idea is to they start out near the outskirts of detroit near more pricey suberbs and move inward. In some cases you can actually create home associations that are gated and secured. Just wondering if anyone has any experience at all with this. Just looking behind the curtain here.
Mike