Detroit Land Bank: The Good, Bad and Ugly (What you need to know)
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- Опубликовано: 8 фев 2025
- Buying from the Detroit Land Bank: The Good, The Bad and The Ugly. In this video I will tell you all a little about my experiences with the DLBA. I've had many issues but in the end it's all worked out. Take a look to prepare for situations you might run into.
Thanks for Sharing Calvin, I'm coming down next week to start looking and make a decision, tired of sitting on the bench, and also thanks for the encouragement.
Thank you for your information, it time for me to get out of renting, I wish I could have done this a long time ago.
Thanks lesson learned 💜its been a journey.
Can you buy while having federal debt? This is a real great idea!!! 🤯 I can't even believe this!!! This video needs more views but people busy worried about politics and the media!!! I'm in the wholesaling real estate game right now but this has definitely got to be apart of my empire!!! 💯
yes
I just purchased my first land bank properties it was actually a bundle because it came with a Lot Next to it 💪🏿 I’m anxiously nervous and excited at the same time and I can admit I have no idea what I’m getting into 😅 but watching YOUR 🫵🏾 videos motivated me to take this step
Please reach out I am assisting people with getting the ball rolling on there. Land Bank properties.
@@calvinm730 how can I contact you to discuss assistance?
@@calvinm730 How do I contact you for assistance?
How did it go
Wow, they had that mix up four times? That sounds like a headache but you pushed through so congrats.
I am late to your video
Yet I want to do the land bank to buy my first house
After the closing how long do they they tell you to fix the house up and what is the average cost to fix a Detroit land bank home in Detroit?
Hey my brother I watch a lot of your videos. The new year is coming. Is there going to be any changes in the DETROIT land bank $1000 system for 2023?
Thanks for the video fam. Two Quick questions: Are Land Banks legally able to confiscate the property for any reason even after you've renovated the property in the right time frame ?
Also, can Land Bank Properties be passed down to your kids ?
Thanks in advance
Appreciate the honesty and you inspire me it's scary to buy any property but soon surely I'm going to jump into it and take the risk
Most definitely But look at it like this at the end of the day you’re purchasing land and land is worth money
So can you even get insurance on these houses in the hood ? If so how much would that cost ?
Thanks Calvin for sharing!!!
🙏🏾✊🏾
Do you also happen to fix up other buyer's houses? And if i wanted to buy in Detroit, what would be a decent neighborhood on the land bank to look at? My main concerns are safety and affordidiblity of renovation b/c I dont have alot of money for repiars....
It will depend on your budget, but yes, I have done similar things for other investors
@@calvinm730 Cool, im thinking of rolling dow there during that ribs and r&b festival in august, any suggestions on a hotel thats nice but not charging an arm or a leg? Maybe we could sit down and talk even...
Thank you for this
If someone owed sales or sales use tax to the state of MI would they not qualify or is it specific to owing money in the Detroit district. New Subbie here.
Blessings my brother how can you get funding
Just saying that Detroit was my sister city 50 years ago! Come on now, we loved our music, we loved the journey! and what can we do to pick up our Detroit Homes! Well, when I hit the lottery, I will be putting millions of dollars back into my Detroit Cousins!! Paying it forward! Cleveland loves our cousins in Detroit! Rust town is the same for all of us!
Go figure, we are all about loving each other!
I used to work in insurance, and I can confirm working with financing and mortgage departments of banks are the worst. They lose info, ask for the same things multiple times. And some times they don’t even know what documents they need
🤦🏾♂️smh they are
@@calvinm730 if the land bank sends you an email saying you won a winning bid, that's a legally binding contract. You need a lawyer the land bank is playing games. Their mismanagement should not be costing you damages. You had to take at least one day off work that's measurable damages.
You need to get a working relationship with a lawyer. Save a grand and go interview some lawyers. Find one you trust and put them on retainer
great info... But why don't they allow you to see what other bidders are bidding?
To help out the little guys
Hey Calvin!
Just wanted to know if you know anything about Dlba reconvening your property. Is there anything I canso to stop that from happening?
Was it a personal tax debt or a property tax debt
Jealousy is the most destructive of human emotions. But Americans don’t share a single pie, they make their own pies. Glenn Beck used to say America is an endless supply of opportunities back your dump truck up and get yours its like filling it with water its so abundant. You seeked and found and that makes you a great American. I salute you, sir.
💪🏾🙏🏾
Hey! I am from the metro detroit area and would love some mentoring on how to get started. Do you mind if I reach out to you for questions? Thanks for this video!
no matter the department when it comes to Detroit ,theres no help. they will say there helping, but its not true 6:48
I truly understand what you’re talking about. That’s why I started making videos to help people out so you don’t struggle like I did in the beginning.
How do you find quality plumbers, electricians and such?
I do all my homework
Is land bank the same as buying a tax property home? Bc brain is just not grasping it. Tax delinquent comes with having to wait 1yr in some states. But I heard land banks can be free and clear? Anyone with a better understanding can hell explain this to me
Can you recommend financing/loans for rehabbing land bank properties?
buildingdetroit.org/financing
I just purchased my home and I’m waiting to close later this month. Is there anything I can do to the home while I’m waiting to close?
Lock it up and get to renovation asap🤞
do you purchase homes in your name or business name
I’m trying to get some help with purchasing my first home and I’d like to go through land bank ,but I live in Texas. I’m trying to move to Detroit
square.site/book/BXHFTFBECAY2V/herosquad-property-management-llc-detroit-mi
I wouldn't do it.Go rent a place for a few months in the hood you looking at.Stay the winter because the weather is brutal compared to anywhere in Texas. I know,I been both places. I staying here in Texas.
Do you know anyone who can jack up a home? Just purchased a land bank home and foundation needs to be replaced…
I got your email. Unfortunately I do not have anyone that can jack up a House send me a message on Instagram. I’m going to get you in contact with one of my friends that is a license builder.
What does that cost
🔥🔥🔥
Great video
thank you
thanks man
🙏🏾
Can Canadians do this? Especially living in Windsor right across the way.
Yes
Please do your due diligence ...go to the property and walk through it before you bid and take a contractor with you
Hey how you doing I need to ask you something
How much did it cost to renovate one of the houses? TOTAL
my first was about 8k in Materials and I did all the work
Great family member
Greetings, So you decided not to purchase anymore. Would you recommend as an investor to go this route?
Yes this is a good route for an investor and
A person that doesn’t have a lot of capital
Does the land bank give loans to rehab
no
Hello did you purchase an own it now house or Auction?
only (own it now) homes
Appreciate you bro✊🏽💯
thanx
Bro it took a whole month just to get the PA countersigned,🤦🏽♂️ I’m still waiting to close
Yes I’ve been there before
Wassup Brotha. Do you got any contact info anywhere. I definitely want to chop game with you about these homes. I have a good friend headed out there next week. He just got one and I told him he definitely would want to connect with you.
In my earlier videos I do have my Instagram and Twitter information on there here’s my email herosquad.pm@gmail.com
Is that a smoke detector beeping in the background my guy?! WTF??
Synchrony bank has 7,000 complaints. I'm dealing with them in a different capacity. I co-signed for my son's friend to purchase a vehicle and for 3 wks,this bank won't stop sending me robo messages after I blocked their#. They should be calling the primary party who possess the vehicle for the payments!
Banks are crooks. Word.
Have your list of what topics together before you start talking
Is the "building detroit investor" group on Facebook?
yes
@@calvinm730 thanks. I DM'd you my email for your uncle the realtors info. When you get the chance.
Open detroit to the world and they will come. Give the world incentive to move in. Texas, florida, and other states are doing it. Emigrants bring in money, expertise, talent, and that will accelerate business development. But. Dlba is only for michigan residents. Why the exclusiivity? Don’t you want a diverse population? Don’t you want growth from all fronts? Guess not.