There’s been a lot of headline news about Detroit, specifically that you can buy a home there for $1,000.
The Detroit Land Bank Authority is trying to put run-down and vacant properties to productive use. As such, it is now auctioning off thousands of publicly owned properties through its public platform Auction — and the bidding starts at $1,000.
So is this a good idea? I thought it would be a good idea to bring in our Detroit full service property provider/property manager to tell us what’s going on.
Our Detroit Property Team will be joining us in Cleveland next weekend. Learn more here.