The Renaissance Zone program is a collaborative effort between the City of Detroit, the County of Wayne, and the State of Michigan to give tax incentives to residents and businesses. The City of Detroit has designated sixteen areas as Renaissance Zones. This program works to encourage economic stability and development within the eight designated areas [...]
Archive of posts tagged real estate
The trickiness of investing in Detroit real estate
This recent Reuters article exemplifies several attractions and pitfalls of investing in foreclosed properties in Detroit.
Take this for example
Wallace, 27, said he did not want to leave his fiancee and two children with a mortgage before shipping out to Iraq later this year.
“I still have student loans and I’m trying to be responsible. I don’t [...]
Just because it’s foreclosed, doesn’t mean it’s unoccupied.
Freep has an interesting story about how one can still be in their home even when it’s being foreclosed.
For starters, you don’t have to move right away. And if you work out a payment arrangement with your lender, there’s still a chance you can stay in your home.
Helpful information for those in trouble. Good information [...]
Your Foreclosure Real Estate Investment Team
A solid foreclosure investment team consisting of the following members:
Real estate agent
Real estate attorney
Mortgage broker
Accountant
Title company
Home inspector
Contractor
Now, with a solid team in place, you take on the role of manager and major decision maker and can create an efficient system that minimizes risk while maximizing profit.
Why You Need a Team for your Real Estate Business
I love reading things by wealth-builder Robert Kiyosaki. And one of the things he is ALWAYS advocating is building a team. Don’t try to do everything yourself. You can’t possibly be expert at everything. You can be knowledgeable – a preferred – then you hire someone who is expert to do the things they are [...]
Finding Million Dollar Foreclosures
In Detroit and Southern California, foreclosure opportunists are going after cheap homes in downtrodden neighborhoods, which are selling in the five-figure range.
But there are plenty of million dollar-plus homes out there, in good neighborhoods, which have fallen into foreclosure as the result of shoddy lending practices, speculative buyers and homeowners walking away from a negative [...]
Free foreclosure list – 11/01
Ask Michelle your Detroit real estate question and see your answer posted here.