Crowdfund Homes in Detroit?

[bbit]

The reason I had Detroit in mind is the transportation and infrastructer is already there. Mainly, we snatch up some land/property and convert into a bitcoin shanty town to start and spreading out as we go. At least that is my thinking.  

I have a feeling this might be our only chance.

The infrastructure is very worn, but true that could be fixed more easily than building it all from scratch. It would be neat, but there are a few things that could break the project. First, we would need to create jobs so people could work and afford to live there. We would also need to repair the houses to liveable conditions. So while it may only cost $500 to buy a house, it would still cost many thousands to repair them. Then we would have to deal with crime. Those in areas that weren't improving would be targeting the area that is. I have a feeling the few police officers left in Detroit would be hanging around our section, because we would be the only ones paying taxes, but security would still be an issue. I suppose its doable, but we have to first figure out how to recoup our costs so we can continue expanding.

As for property taxes, I'm sure we could just talk to the mayor and perhaps find some business loophole that would lower the taxes for our project while we were getting everything set up. I would think they would be more interested in a reduced tax rate, rather than none at all.


edit* Also, did a bit of looking into it, rather than aiming at the $500 houses, I'd say aiming at the $10,000-$20,000 houses is a better plan. There are actually quite a few of them that don't look like they are in ghettos.

I agree. $10,000 - $20,000  range houses. Property taxes could be talked down with a mayor I'm sure.  I think jobs can be through some fashion of what we do from the houses that are snatched up. Bitcoin mining, growing stuff ( illegal or legal) ummm there should be way to supplant some sort of basic income.  I think security is something we all would be good at . Libertarians are big pro-gun supporters so some would come along for it.

[bbit]

I'm not sure knocking down old shoddy buildings for farmland is a very good idea. What do you think the chances are that the old buildings you are demolishing were painted with lead paint? Even if you disposed of the house materials in the proper way (hazmat precautions required, very very expensive) the ground around where the houses were demolished would be unusable due to the contact it had with the house in standing condition.

I think it would be incredibly neat to have a Bitcoin crowd funding project buy up an area, but I think we may have better luck in another area that is insanely cheap. I have often though of buying a lot of land out in a very rural area, and then creating a large business there. Jobs would attract people to move there, and essentially grow the area into a town. Detroit may still be feasible, but perhaps with a different plan than funding by farming.

The reason I had Detroit in mind is the transportation and infrastructer is already there. Mainly, we snatch up some land/property and convert into a bitcoin shanty town to start and spreading out as we go. At least that is my thinking. 

I have a feeling this might be our only chance.

property taxes

they can be included I mean $5,000 + property taxes isn't going to break the bank.

they better pay me 5000 in taxes to live in detroit....

Can it really be that bad?

[Mike Christ]

Can it really be that bad?

The crime rate right now in Detroit is completely insane.

[bbit]

Can it really be that bad?

The crime rate right now in Detroit is completely insane.

So we are all gunna die when we move into our new homes? lol

[SaltySpitoon]

So we are all gunna die when we move into our new homes? lol

Yes

Ok maybe not all of us, but the risk is far greater of being robbed/vandalized/killed in Detroit than nearly anywhere else. I for one, would like to invest there, however I would not personally live there. I'm actually not a fan of Michigan to begin with, so I never had any intention to move there. That does not mean that there aren't people that would live there, or would like to live in a safer/nicer part of Detroit than where they live already. Creating a safe neighborhood would be a #1 priority, and probably the most difficult thing to do.

[Damnsammit]

Luckily we have a Bitcoin arms dealer now! 

https://bitcointalk.org/index.php?topic=266556.0

We can take over Detroit

[bbit]

Luckily we have a Bitcoin arms dealer now! 

https://bitcointalk.org/index.php?topic=266556.0

We can take over Detroit

+1! sweet deal! 

[fcmatt]

I thought most ppl here knew the golden rule of buying property. Location, then location, and finally location.

The second rule is buy quality for a good price. Not shit for cheap. There is a reason homes in detroit are cheap. It is due to the people who live there. No one wants neighbors that will take revenge on you and yours just because you try to better yourself. Fix up your home, drive a nice car, and take pride in yourself? You are now a target.

Detroit is not Boston in the 60s and 70s. That 5000 dollar home full of lead paint and abestos is there because the ppl in charge of detroit kicked the can down the road one too many times. Maybe in a generation or two the time will come for a rebound.

[cryptoanarchist]

I've actually been giving this serious consideration.

1. It can't get any lower price-wise; not much anyway when you're talking about a $3000 house. Didn't one of the Rothschilds say "Buy when there's blood in the streets"? Sounds like Detroit.

2. Taxes - yeah, the assessments are high, but the city is so broke, they can't afford to kick people out of their homes. Many people are way behind and have been allowed to keep their homes. Also, they're losing the enforcement ability. The cops actually don't answer calls after 8pm.

which brings me too

3. governmental collapse - it's a good thing. The quicker they let the government of Detroit die completely, the better. There is already a private police force that has started up to good reviews. There is also a private bus system that is probably the best in the nation as far as service goes.

[bbit]

I thought most ppl here knew the golden rule of buying property. Location, then location, and finally location.

The second rule is buy quality for a good price. Not shit for cheap. There is a reason homes in detroit are cheap. It is due to the people who live there. No one wants neighbors that will take revenge on you and yours just because you try to better yourself. Fix up your home, drive a nice car, and take pride in yourself? You are now a target.

Detroit is not Boston in the 60s and 70s. That 5000 dollar home full of lead paint and abestos is there because the ppl in charge of detroit kicked the can down the road one too many times. Maybe in a generation or two the time will come for a rebound.

Yet in this case its deal, deal then DEAL!   You make it what you want it to be. If for some reason Detroit turns it around you ( us ) are sitting on a goldmind as Bitcoiner's. Just my 2 cents.

[Damnsammit]

Well, I've convinced my wife, I think.  We are looking for houses and crime rate.  Most of my family lives north of Detroit in the safer areas.

We are looking to buy 4 or 5 houses in close proximity... could be fun.  If not, then I can always bail and move to the safe zone in Sterling Heights

[Damnsammit]

Yet in this case its deal, deal then DEAL!   You make it what you want it to be. If for some reason Detroit turns it around you ( us ) are sitting on a goldmind as Bitcoiner's. Just my 2 cents.

Also, it's a relatively cold climate, and with an AC unit, a basement could be ideal for hosting miners.  E-Commerce can be done from a basement as well.

Both of these things would help the Bitcoin community.

[bbit]

3. governmental collapse - it's a good thing. The quicker they let the government of Detroit die completely, the better. There is already a private police force that has started up to good reviews. There is also a private bus system that is probably the best in the nation as far as service goes.

I agree. The less enforcement the more freedom the more we make it the way we want it. I'm not sure why people don't think we can make this the way we want it.

1.] Our own protection service

2.] Our own jobs via whatever methods we develop in-house i.e., website development services , bitcoin mining   I mean we are pretty smart people I think we can figure it out! I mean you all make it sounds like seasteading has a better chance then detroit! lol

Don't know but there would be like one or two people who live there ( or whomever pledges can live there) so they will always be maintained.

[bbit]

Yet in this case its deal, deal then DEAL!   You make it what you want it to be. If for some reason Detroit turns it around you ( us ) are sitting on a goldmind as Bitcoiner's. Just my 2 cents.

Also, it's a relatively cold climate, and with an AC unit, a basement could be ideal for hosting miners.  E-Commerce can be done from a basement as well.

Both of these things would help the Bitcoin community.

I agree.  I'm just trying to figure out "reward tiers". Those would be interesting no doubt.

[acoindr]

... Fix up your home, drive a nice car, and take pride in yourself? You are now a target.

If that's the only attitude you project then yes certainly, but look at the video here:

http://theurbanfarmingguys.com/about

You will see the guys moving in to invest in that neighborhood are not doing it without betterment of the neighborhood being their core mission. Making a profit isn't the only thing which might attract people to Detroit. Opportunity can mean different things. There are actually entrepreneurs already on the scene in Detroit. A couple articles:

http://www.fastcompany.com/3007840/creative-conversations/how-young-community-entrepreneurs-rebuilding-detroit

http://www.cnbc.com/id/100900219

I agree it's probably not for the fainthearted, though.

[chsados]

Lol. I can imagine something similar to The Wire.

A large Bitcoin holder buys up a bunch of homes.  Turns them in to stash houses, hires a gang of youngsters and gives them each burner phones as well as a bitcoin address.  The gang peddles drugs and hands over the loot to a cleaner who launders the money through bitcoin.  The gang gets payed weekly through their bitcoin address.

Sounds like a good cypherpunk book.

[bbit]

Lol. I can imagine something similar to [ur=lhttps://en.wikipedia.org/wiki/The_Wire]The Wire[/url].

A large Bitcoin holder buys up a bunch of homes.  Turns them in to stash houses, hires a gang of youngsters and gives them each burner phones as well as a bitcoin address.  The gang peddles drugs and hands over the loot to a cleaner who launders the money through bitcoin.  The gang gets payed weekly through their bitcoin address.

Sounds like a good cypherpunk book.

dude, write that shit up haha

[fcmatt]

... Fix up your home, drive a nice car, and take pride in yourself? You are now a target.

If that's the only attitude you project then yes certainly, but look at the video here:

http://theurbanfarmingguys.com/about

You will see the guys moving in to invest in that neighborhood are not doing it without betterment of the neighborhood being their core mission. Making a profit isn't the only thing which might attract people to Detroit. Opportunity can mean different things. There are actually entrepreneurs already on the scene in Detroit. A couple articles:

http://www.fastcompany.com/3007840/creative-conversations/how-young-community-entrepreneurs-rebuilding-detroit

http://www.cnbc.com/id/100900219

I agree it's probably not for the fainthearted, though.

That fast company article proved my point. Two cars stolen and the house burnt down. Lol.

[chsados]

...Sounds like a good cypherpunk book.

dude, write that shit up haha

If only I had the time and imagination to turn it into a full story.  Aspiring writers out there, get at it!

[franky1]

Lol. I can imagine something similar to The Wire.

A large Bitcoin holder buys up a bunch of homes.  Turns them in to stash houses, hires a gang of youngsters and gives them each burner phones as well as a bitcoin address.  The gang peddles drugs and hands over the loot to a cleaner who launders the money through bitcoin.  The gang gets payed weekly through their bitcoin address.

Sounds like a good cypherpunk book.

check out the username finshaggy.. this is something right up his street. he loves making up stories about drugs and dreams of a uptopian town made using bitcoins..