Here we are in January of 2009 in Michigan. The auto industry, economy, and the real estate market are in turmoil, which is what makes 2009 the year you MUST take action in real estate. Yes, you’re reading that correctly. There is an unprecedented opportunity in real estate right now that we will not see in our lifetimes because we will not see the <insert cliche term “Perfect Storm”> of events that have occurred to get us to where we are right now. Housing prices are lower than than they have been in decades (not even counting inflation) yet rental rates remain stable.
What happens when housing prices decrease while rental rates stay the same? Let’s see, less invested capital for the same return. That means your cash on cash return and your overall Return on Investment (ROI) is higher.
Why isn’t everyone rushing in to buy property in Southeast Michigan right now, you may ask? Well, there are plenty of buyers in the market right now buying investment properties. My company, Urban Detroit Wholesalers, has sold properties to investors in many different states and have even garnered attention from overseas investors. It seems to be fear and uncertainty that keeps many metro-Detroiters from moving ahead with investing.
All it takes is looking at the price of houses, the ability to rent, and the cash flow that you’ll receive. Even the most conservative investors can see that there are literally thousands of excellent deals to be had in Metro-Detroit. This market excites me and it makes me want to get others excited about the opportunities! Don’t be the one kicking yourself because you didn’t get involved.
I want YOU to take action. Yes, YOU. I don’t care if your investing in Detroit, Eastpointe, Redford, Saint Clair Shores, Grosse Pointe, Royal Oak, Oak Park, Southfield, Troy, Downriver or anywhere else in Michigan, you need to make a move.
If you don’t know where to start or you need excellent contacts, you need to make it a point to attend the next Renegade Detroit Investors Meeting.
[tags]metro-detroit, real estate, michigan, investments, opportunities[/tags]