Detroit Real Estate Hot Talk

doogie

Mosster47 said:

jecornel said:

Mosster you are so full of shit... Haha.

Christ.

Not quite. VA loan for the big house that I lived in, which doesn't cost anything to move into. You could get foreclosures for $100k and under like toothpicks at that time. If you have the 20% any bank will give you the money for five investment properties. Rent them out, which was super easy in those days because everyone that was retarded and bought during the bubble destroyed their credit. They pay the equity.

I honestly didn't think it was only going to take five years. I thought it would be more of 8 to 10 to pay off. You win some you lose some.

That was easy. You would of had to have some serious fucking money that you didn't need to make Detroit stuff work and I definitely didn't have that.

You had plenty of money to buy Oregon foreclosures, like toothpicks, at $100 grand a pop yet buying Detroit properties for $5-10 grand, which you looked into, but passed on, would have taken too much money? And your plan called for 8-10 year hold?

Do you know how I know you don’t teach junior high maff? (Oh shit. Maybe you do?)