Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Average Home Price in Detoit Drops to $11,596

mykalberta · 08-20-2009, 11:47 AM

May parents looked into Detroit. They have a strange renters policy in Michigan that basically says you if you lose your job, you can live at your place rent free for 6 months and the rentee has to accept it.

The lawyer strongly advised against Michigan unless you are doing it on a pure purchase and wait strategy. There are security companies in Michigan which will check on homes daily for those who have purchased and are just holding. California or Florida was suggested as a safer alternative - 8X the cost, but a much safer environment for rental income.

08-20-2009, 11:47 AM	#17
mykalberta Franchise Player Join Date: Aug 2005 Location: Calgary Exp:	May parents looked into Detroit. They have a strange renters policy in Michigan that basically says you if you lose your job, you can live at your place rent free for 6 months and the rentee has to accept it. The lawyer strongly advised against Michigan unless you are doing it on a pure purchase and wait strategy. There are security companies in Michigan which will check on homes daily for those who have purchased and are just holding. California or Florida was suggested as a safer alternative - 8X the cost, but a much safer environment for rental income. __________________ MYK - Supports Arizona to democtratically pass laws for the state of Arizona Rudy was the only hope in 08 2011 Election: Cons 40% - Nanos 38% Ekos 34% Last edited by mykalberta; 08-20-2009 at 11:53 AM.