Hi Francis,

In addition to condition issues, some sellers start with a very low listing price and create an auction like atmosphere, where potential buyers bid up the price during a multiple offer situation. Not at all uncommon from banks over the last few years.

Good luck with your investments.

Location, location, location and usually a lot of work is needed. I have even seen them on the market for $100 but there is nothing left in the house except the shell and that will need work also. Work with a reputable agent that can help you with where they are and the condition of the property.

Good luck

There is sound advice below. I know that houses vary in price for one or more of the following reasons:

1. Location
2. Condition of the house
3. Awkward or bad design/layout

As a foreign investor you have to be VERY carful to not let price alone dictate you investment decisions. If a house is in a bad area, you will never keep it rented. Vacancies will eat up your ROI and leave you with a bad investment.

My company works with investors from all over the world, helping them find, renovate, and rent their properties. We also have property management that with make sure the house stays rented and your rent checks are uninterrupted, thus making your return on investment as high as possible.

I would love to talk to you and see if we can be of assistance in your future Detroit cash flow investments.

Mike Simmons
Managing Partner
Detroit Cash Flow Properties, LLC
586.275.7122
Mike@DetroitCashFlowProperties.com http://www.DetroitCashFlowProperties.com http://www.facebook.com/DetroitCashFlowProperties

I would say be careful when purchasing these super low priced homes you really do get what you pay for the 2k house may be a shell house gutted inside or a tax sale where you don't get clear title

If depends on the neigborhood sometimes and sometimes it just depends on the particular home. Some of these homes have a lot owed on them when they foreclose. Some homes that have a lot owned on them have been vandalized so bad where they have to be sold for less because no one will buy a home thats a big fixer-up for a lot of money and the home next door is move-in ready that only $17k or so is owed.


We are a client-based real estate company who specialize in investors' interests. We find homes for them. We do all the leg work for our investors. Fill free to e-mail us at info@onlybrickhomes.com. We will be happy to service you.

Thank You

It sounds like that house is a HUD house.
There is probably considerable damage and they are looking for a CASH buyer, as the house would not qualify for a Loan.
They also prefer to sell the house to an Owner/Occupant.

To get the whole answer, contact a Reator in that area and have them do your dilligence for you.

Good luck and may God bless

Hi Francis

I would guess the differences are based on Location, adjacent and/or neighborhood house conditions,
and interior condition (reparis, mold, vandalism) of the house for sale.

Mike Warren
Keller Williams Realty
734-634-5868