All Forum Posts by: Richard Dunlop

DETROIT, MICHIGAN  

BiggerPockets is still a valuable resourse even after 8 years!
They've done an excellent job except for calling Detroit and Michigan so wrong!

  They were 540 degrees off of reality.
           (That is 180 degrees with an extra complete spin;

              your still pointed the wrong way with an extra dose of dizziness!)

My only complaint is it seems a shame that you have to leave the site to be able to do a real search.
But the search engines do a good job; here is a sample search when I was looking for a specific post of mine that was five years old.
sample search here

I do intend to reactivate Pro and once again participate

@Michael S.

16 Feet      

Separates the   $776,000.00 house from the $7600 house

In Indian Village 

Detroit has houses better than 95% of the cities in the US!

but it also has houses that are worse than 95% of the cities in the US!

both inside the city limits of Detroit!

Counterfeit Glock Counterfeit Cash

Detroit has houses better than 95% of the cities in the US!

Detroit has houses worse than 95% of the cities in the US. Both inside the the city limits.

@Christian Hutchinson I liked your story about missing out by investing in a suburb(Madison Heights I think) instead of Woodward Ave in the heart of Detroit.

Please Tell it again for all of the people that are still reading 10 year old newspapers in the barbershop.

A lot of these houses in this neighborhood were selling for $25,000 and less when I moved to Detroit! I bought mine for $16,000 now worth $500,000.

I told people I was investing in Detroit because the appreciation was better than anywhere else but the cash flow was gravy.

Detroit has houses that are better than 95% of the cities in the US!

Detroit also has houses that are worse 95% of the cities in the US!

Both within the city limits of Detroit. 

Downtown Detroit is the the cleanest most vibrant city I have ever lived in. (Santa Clara CA, San Jose CA, San Diego CA, Orange County (Tustin)CA, Long Beach CA, Phoenix AZ)

 Detroit has higher cash flow AND higher appreciation than any other Market!

You are about a decade behind reality to pretend that Appreciation is low in Detroit area. It is better than anywhere. I buy for the appreciation the cash flow is a nice bonus.

See this thread where I quote @Christian Hutchinson complaining that the house he bought in a nice suburb of Detroit only went up 76% in 5 years because properties he had looked at INSIDE Detroit had gone up 600%.

It is routine to sell properties bought 3 years ago for 10X what I paid!

(bottom of page 5 in thread above)