Investing in Michigan

[CA renter]

[quote=CricketOnTheHearth]Hi, guitar187:

I’m another Michigan-born who moved out here 17 years ago but my dad is still back there and I visit once every year or so.

Basically for decades Michigan has been really three economic districts– the Detroit area and Flint, epicenters of the auto industry and cratering of same, located around the “base of the thumb”. Then there is “outstate Michigan”, which is the rest of the “mitten”. In the south along I-94 you have Ann Arbor (as mentioned, doing all right), Battle Creek (doing middling), Kalamazoo/Portage (doing all right). A bit to the north is Grand Rapids, which is also doing OK, and Lansing, which is kind of suffering from the aura of the auto industry crater, I believe.

Further in the north of the “mitten” you have Traverse City and Mackinac Island… their economies have a large tourism component; I’m not sure how they’re doing.

Finally there is the “upper peninsula”, whose country and economy more resembles rural Canada or Minnesota than the southern part of the state.

If you want to invest in Michigan fairly conservatively, I recommend Grand Rapids, Kalamazoo, or Ann Arbor. Stay the hell away from Flint and Benton Harbor, they are crime epicenters.

Detroit itself still has a way to fall, unless you can hook something up with the artists & musicians & the like who are moving back in there– if you can, knock yourself out. Musically and artistically I think Detroit is a jewel very much still in the ground, but it has a lot of potential because those artists basically have free rein of the place. See Detroit Lives! to see what I mean.[/quote]

That is a great site, Cricket. Thanks for sharing that with us.

You know, I think that if we had socialized medicine in this country, we could revive a lot of these great Midwestern cities. There are plenty of reasons for young people to move there — cheap housing, plenty of cheap commercial space, fresh water, and a “blank page,” like they said in the video. The problem is that people cannot live without healthcare, and in a country where families have to pay $1,000++ per month for health insurance, there is no way they can strike out and take great entrepreneurial risks in cities like Detroit. If we gave them a bit of extra security via universal healthcare, I think we’d see more people would be willing to take extra risks, and it could lead to a new era of fantastic creativity and innovation.

[blahblahblah]

[quote=CA renter]The problem is that people cannot live without healthcare, and in a country where families have to pay $1,000++ per month for health insurance, there is no way they can strike out and take great entrepreneurial risks in cities like Detroit.[/quote]

I think this perception may change. People may wake up and realize that health insurance is a big scam. 75% of medical-expense related bankruptcies occur in households that have health insurance. Given that, why not just save your money and stop buying health insurance? If the worst happens you go bankrupt or die because you can’t afford a necessary procedure, but this happens to people with health insurance every day anyway! Medical tourism is also making complex procedures available to people for a fraction of the cost of those in the US.

Yeah the midwest is looking better all the time for investment. I think it will come back one day.

[blahblahblah]

[quote=CA renter]The problem is that people cannot live without healthcare, and in a country where families have to pay $1,000++ per month for health insurance, there is no way they can strike out and take great entrepreneurial risks in cities like Detroit.[/quote]

I think this perception may change. People may wake up and realize that health insurance is a big scam. 75% of medical-expense related bankruptcies occur in households that have health insurance. Given that, why not just save your money and stop buying health insurance? If the worst happens you go bankrupt or die because you can’t afford a necessary procedure, but this happens to people with health insurance every day anyway! Medical tourism is also making complex procedures available to people for a fraction of the cost of those in the US.

Yeah the midwest is looking better all the time for investment. I think it will come back one day.

[blahblahblah]

[quote=CA renter]The problem is that people cannot live without healthcare, and in a country where families have to pay $1,000++ per month for health insurance, there is no way they can strike out and take great entrepreneurial risks in cities like Detroit.[/quote]

I think this perception may change. People may wake up and realize that health insurance is a big scam. 75% of medical-expense related bankruptcies occur in households that have health insurance. Given that, why not just save your money and stop buying health insurance? If the worst happens you go bankrupt or die because you can’t afford a necessary procedure, but this happens to people with health insurance every day anyway! Medical tourism is also making complex procedures available to people for a fraction of the cost of those in the US.

Yeah the midwest is looking better all the time for investment. I think it will come back one day.

[blahblahblah]

[quote=CA renter]The problem is that people cannot live without healthcare, and in a country where families have to pay $1,000++ per month for health insurance, there is no way they can strike out and take great entrepreneurial risks in cities like Detroit.[/quote]

I think this perception may change. People may wake up and realize that health insurance is a big scam. 75% of medical-expense related bankruptcies occur in households that have health insurance. Given that, why not just save your money and stop buying health insurance? If the worst happens you go bankrupt or die because you can’t afford a necessary procedure, but this happens to people with health insurance every day anyway! Medical tourism is also making complex procedures available to people for a fraction of the cost of those in the US.

Yeah the midwest is looking better all the time for investment. I think it will come back one day.

[blahblahblah]

[quote=CA renter]The problem is that people cannot live without healthcare, and in a country where families have to pay $1,000++ per month for health insurance, there is no way they can strike out and take great entrepreneurial risks in cities like Detroit.[/quote]

I think this perception may change. People may wake up and realize that health insurance is a big scam. 75% of medical-expense related bankruptcies occur in households that have health insurance. Given that, why not just save your money and stop buying health insurance? If the worst happens you go bankrupt or die because you can’t afford a necessary procedure, but this happens to people with health insurance every day anyway! Medical tourism is also making complex procedures available to people for a fraction of the cost of those in the US.

Yeah the midwest is looking better all the time for investment. I think it will come back one day.

[birmingplumb]

I am in Michigan and can tell you we are robbing our 401k for 40k to buy sfr and condos for cash starting at 18k up to 40k. All are north of Detroit…all command 800-1400 mo rent. There are plenty of bidders but prices have dropped significantly maybe 50 percent yet rentalsin good areas are going at great rates.
1. Orion township
2. St clair shores
3. Oakland township
4. Entire Macomb county hit hard but rentals bring in 400-8– positive cash flow
5. Favorite is Chesterfield
You need to contact some realtor here or join landlords association clubs if serious.

I am considering selling my Royal Oak rental at a 100k loss…just to buy 5 35k condos in Chesterfield……present rent income 1500 …after buying 5….5 times 800 or 4k …ding ding

Very easy to check this out by using computer and checking rentals (sold) get price per sq ft. Then find one just like it or in same comples—many units sold for 136 to 160k now 30-40k…and yes we have the water. Motown

[birmingplumb]

I am in Michigan and can tell you we are robbing our 401k for 40k to buy sfr and condos for cash starting at 18k up to 40k. All are north of Detroit…all command 800-1400 mo rent. There are plenty of bidders but prices have dropped significantly maybe 50 percent yet rentalsin good areas are going at great rates.
1. Orion township
2. St clair shores
3. Oakland township
4. Entire Macomb county hit hard but rentals bring in 400-8– positive cash flow
5. Favorite is Chesterfield
You need to contact some realtor here or join landlords association clubs if serious.

I am considering selling my Royal Oak rental at a 100k loss…just to buy 5 35k condos in Chesterfield……present rent income 1500 …after buying 5….5 times 800 or 4k …ding ding

Very easy to check this out by using computer and checking rentals (sold) get price per sq ft. Then find one just like it or in same comples—many units sold for 136 to 160k now 30-40k…and yes we have the water. Motown

[birmingplumb]

I am in Michigan and can tell you we are robbing our 401k for 40k to buy sfr and condos for cash starting at 18k up to 40k. All are north of Detroit…all command 800-1400 mo rent. There are plenty of bidders but prices have dropped significantly maybe 50 percent yet rentalsin good areas are going at great rates.
1. Orion township
2. St clair shores
3. Oakland township
4. Entire Macomb county hit hard but rentals bring in 400-8– positive cash flow
5. Favorite is Chesterfield
You need to contact some realtor here or join landlords association clubs if serious.

I am considering selling my Royal Oak rental at a 100k loss…just to buy 5 35k condos in Chesterfield……present rent income 1500 …after buying 5….5 times 800 or 4k …ding ding

Very easy to check this out by using computer and checking rentals (sold) get price per sq ft. Then find one just like it or in same comples—many units sold for 136 to 160k now 30-40k…and yes we have the water. Motown

[birmingplumb]

I am in Michigan and can tell you we are robbing our 401k for 40k to buy sfr and condos for cash starting at 18k up to 40k. All are north of Detroit…all command 800-1400 mo rent. There are plenty of bidders but prices have dropped significantly maybe 50 percent yet rentalsin good areas are going at great rates.
1. Orion township
2. St clair shores
3. Oakland township
4. Entire Macomb county hit hard but rentals bring in 400-8– positive cash flow
5. Favorite is Chesterfield
You need to contact some realtor here or join landlords association clubs if serious.

I am considering selling my Royal Oak rental at a 100k loss…just to buy 5 35k condos in Chesterfield……present rent income 1500 …after buying 5….5 times 800 or 4k …ding ding

Very easy to check this out by using computer and checking rentals (sold) get price per sq ft. Then find one just like it or in same comples—many units sold for 136 to 160k now 30-40k…and yes we have the water. Motown

[birmingplumb]

I am in Michigan and can tell you we are robbing our 401k for 40k to buy sfr and condos for cash starting at 18k up to 40k. All are north of Detroit…all command 800-1400 mo rent. There are plenty of bidders but prices have dropped significantly maybe 50 percent yet rentalsin good areas are going at great rates.
1. Orion township
2. St clair shores
3. Oakland township
4. Entire Macomb county hit hard but rentals bring in 400-8– positive cash flow
5. Favorite is Chesterfield
You need to contact some realtor here or join landlords association clubs if serious.

I am considering selling my Royal Oak rental at a 100k loss…just to buy 5 35k condos in Chesterfield……present rent income 1500 …after buying 5….5 times 800 or 4k …ding ding

Very easy to check this out by using computer and checking rentals (sold) get price per sq ft. Then find one just like it or in same comples—many units sold for 136 to 160k now 30-40k…and yes we have the water. Motown

[jpinpb]

Detroit Pushes Back With Young Muscles

[jpinpb]

Detroit Pushes Back With Young Muscles

[jpinpb]

Detroit Pushes Back With Young Muscles

[jpinpb]

Detroit Pushes Back With Young Muscles

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