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Chancery Property Partners Nick Devereaux Avoid Like the Plague, Non tenanted properties, ZERO Investment Potential, Internet
23rd of Jan, 2013 by User324224
Me and my partner bought three Detroit houses for $140,000 in July 2012. “It was being sold to us as a hands-off investment,” I started to become concerned when, five months later, none of the three properties had been tenanted. One property was later tenanted, but I have incurred costs of $4,000 to refurbish another property and the third property is estimated to cost $9,000 to fix. I have $8,000 worth of backdated property tax bills due across all of my properties. I wish I hadn't trusted them !! and recommend you do not - I am now stuck with properties that have neither been refurbished or tenanted, and which are now incurring ongoing costs.

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