Talking Inc Dev w/ Eddy Carrington | City Builders Ep.39

I'm glad you mentioned that.

I was involved in Capital Impact.

also as one of the mentor groups from the architectural standpoint where you have the developers coming in with a project and you help them work through and you basically critique and review from the architectural standpoint.

So yeah, that is a great program.

One of the things I wanted to ask, you talked about banks being able to work with you and your whole emphasis in wanting to get into the Detroit market.

One of the things that I think we've really tried to champion is the facts versus fiction about Detroit and the perception of Detroit from the outside, which has been changing over time, and where now Detroit is on a much greater upswing.

And I think it's people like you who are able to get involved At the micro level, I think that is part of that whole thing.

And I don't know if you've seen other people who are doing it also that are helping to rebuild the city.

Because you always hear about the big, large, major players.

But I think it's guys like you on the ground and others who really make the biggest impact.

Well, I will point out that when I did get into the real estate game back in 2008, it was, you know, right around the time where things were kind of starting to go through, you know, a bit of turmoil.

Yeah, the Great Recession, right? Was that right there? In 2008 to...

even the late 2010s, you were able to buy houses in the city of Detroit for very, very little money.

And so I've purchased a few properties from the land bank for $1,000, $2,000, $5,000.

And at the end of the day, Detroit is a market where at least at that time, you were able to experiment and bump your head and try your hand at real estate investing, in my opinion, a little easier from a financial sense than any other market in the country, right? Because, you know, this is a, Big city, very, you know, has a lot of value, even at that point where, you know, it was pre bankruptcy.

Right.

We, you know, we're, you know, international waters.

Right.

We have the big three here.

I mean, you know, industry is still here and it was it was then and it still is now.

It was, you know, 140 square miles.

It's a very unique market and it was even more so once again during that period because back to the point of, you know, the low entry, the low barrier of entry from the...

I'm glad you mentioned that.

I was involved in Capital Impact.

also as one of the mentor groups from the architectural standpoint where you have the developers coming in with a project and you help them work through and you basically critique and review from the architectural standpoint.

So yeah, that is a great program.

One of the things I wanted to ask, you talked about banks being able to work with you and your whole emphasis in wanting to get into the Detroit market.

One of the things that I think we've really tried to champion is the facts versus fiction about Detroit and the perception of Detroit from the outside, which has been changing over time, and where now Detroit is on a much greater upswing.

And I think it's people like you who are able to get involved At the micro level, I think that is part of that whole thing.

And I don't know if you've seen other people who are doing it also that are helping to rebuild the city.

Because you always hear about the big, large, major players.

But I think it's guys like you on the ground and others who really make the biggest impact.

Well, I will point out that when I did get into the real estate game back in 2008, it was, you know, right around the time where things were kind of starting to go through, you know, a bit of turmoil.

Yeah, the Great Recession, right? Was that right there? In 2008 to...

even the late 2010s, you were able to buy houses in the city of Detroit for very, very little money.

And so I've purchased a few properties from the land bank for $1,000, $2,000, $5,000.

And at the end of the day, Detroit is a market where at least at that time, you were able to experiment and bump your head and try your hand at real estate investing, in my opinion, a little easier from a financial sense than any other market in the country, right? Because, you know, this is a, Big city, very, you know, has a lot of value, even at that point where, you know, it was pre bankruptcy.

Right.

We, you know, we're, you know, international waters.

Right.

We have the big three here.

I mean, you know, industry is still here and it was it was then and it still is now.

It was, you know, 140 square miles.

It's a very unique market and it was even more so once again during that period because back to the point of, you know, the low entry, the low barrier of entry from the...