Detroit man buys $2,100 abandoned home and renovates it: Photos - Business Insider

The Detroit Land Bank Authority is auctioning off thousands of publicly owned properties through its public platform, Auction — and the bidding starts at $1,000.In June 2017, Vincent Orr, a native Detroiter, won an abandoned home through the bidding process for just $2,100.In an interview with Business Insider, Orr explained how he transformed the home into a livable space for $40,000.Visit Business Insider's homepage for more stories.You can become a homeowner in Detroit, Michigan, for as little as $1,000 — but it'll take a lot of work.The Detroit Land Bank Authority, founded in 2008, set out on a mission to return run-down and vacant properties in the city to productive use. To do so, it auctions off thousands of publicly owned properties through its public platform, Auction — and the bidding starts at $1,000.Read more: Run-down and vacant homes in Detroit are being auctioned off for as little as $1,000. All homeowners have to do is get them into livable condition in 6 months.We caught up with Vincent Orr, a native Detroiter, who purchased a home for his mother through Auction in June 2017.Orr won the Detroit home for $2,100 — but that was just the beginningWhile Orr had the highest bid, claiming full ownership of the home required some work.The DLBA has a compliance program requiring winning bidders to renovate the auctioned homes. After the home is renovated, a compliance officer deems the home livable or not. If it is, complete ownership is transferred to the bidder.It took Orr nine months to renovate his property. In an interview with Business Insider, he explained how he transformed the space with just $40,000.Keep reading for a side-by-side look at the transformation.Have you bought a home through the DLBA or a similar program in another city？ If you want to share your story, email this reporter at lbrandt@businessinsider.com.