Detroit Foreclosure Investors

Our motto is “investing in Detroit” and that sounds like a responsible philosophy right? Investing in the future and health of a city. Making a region that has had an economic downturn into a better place. We do believe in investing in Detroit because the metro Detroit area really is a great place with an important history and rich culture.

But, as an investor, we must always first ask, “what in it for me”? And as any successful investor knows, buying an asset at a bargain is the goal. That asset will appreciate and can be sold later at a great profit, or that asset can create a stream of income that will be smaller than a big cash payout, but is steady money that keeps coming in.

We’ve been hearing about housing market woes all over the news including low property values, more foreclosures, difficulties finding financing, and the effects it will have on the possible recession we are facing. Ironically, out of this mess, one of the best opportunities for the real estate investor has arisen–bank foreclosures in the Detroit real estate market.

Detroit bank foreclosures are different from other real estate transaction. These homes are sold off by bank lenders that are trying get any money back from an unpaid loan owed by a previous homeowner. However, most of these properties go for far less through  foreclosure sales than they ever would at open market. Buyers here end up savings anywhere from10 to 70% on Detroit bank foreclosures.

Buying  a foreclosure property is sometimes straightforward, but often is not. With banks that foreclosure property sometimes sell at auction, sometimes work only with agents. Auctions have a different set of rules from sale to sale. Houses that have tax-liens are sold differently as well.

The market for Detroit bank foreclosures is simply booming. Michigan was the states hardest hit by the nationwide surge in foreclosures last year, and Detroit made up for a huge portion of the overall foreclosure inventory. The information here is to help interested investors navigate this complex, but profitable landscape of Detroit foreclosures.