Organic Farmers MarketOrganic Foods, Green Products, Books & Farming Information

Detroit Michigan Real Estate?

I’d like to spend my $20,000 in savings to buy multiple properties in Detroit, Michigan. According to realtor dot com, houses in Detroit start at $1, and there are over 20 houses for $100 or less. I will then remove these burnt-out homes and replace them with organic gardens and sell my produce at a farmer’s market.
Can you find three things wrong with the above idea?

The $1 properties are at that price with the implication you will improve the properties not tear them down.

Demolition costs a lot. Not to mention a lot of the properties have contamination issues and such clean up starts around $100K (and if you want to grow food you must do remediation).

If you do succeed in buying and razing buildings and remediating the soil you still would have to contend with vandalism and theft of your gardens. oh and it takes several years usually to build up a customer base to make your effort at all profitable (and believe me farming is not the way to get rich. it is full of long hours of hard physical labor in all weather for low pay).

All that said it is a neat idea, especially if you get people in the local communities involved in your effort and fed the poor.

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