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The Real Costs of the $500 Detroit "Dream" Home

$50K flips and multi-unit apartment houses and high-rises aren't the only avenue to real estate investment in the Motor City. Between the Detroit Land Bank Authority's auction homes, and work done by celebrity flippers like Nicole Curtis, there are as many ways to invest in Detroit real estate as there are types of houses. The real questions are: Should I invest? and What's in it for me? University of Michigan economics Professor Peter Allen teaches aspiring investors, many of them working on the smallest possible scale, to look at the numbers and make informed choices, and he has some pretty important lessons for those who want to move on property with a too-good-to-be-true price.

More about the true costs, over at Curbed Detroit >>