Is it possible to make money off real estate while being socially responsible?
We all know about the housing crisis and what it’s doing to home values in Metro Detroit.
As a result, the number of vacant foreclosed properties is growing and blight is spreading. Traditional blue collar areas have been hit especially hard as manufacturing jobs decline. Drive down any street in one of the cities that border Detroit and you’ll see vacant properties in disrepair.
The city of Detroit is the biggest mess of all, but seems to have several parties working to stem the effects of foreclosure blight. We met one of them at last month’s meeting called Peace Tree.
I now introduce to you another, Urban Detroit Wholesalers – as featured in Sunday’s Detroit Free Press.
What would it take for you to leave everything you know behind and start a new life in one of the worst cities in America?
If you have a hard time imagining this, spend a few minutes talking to Jeanna Kiehle at the registration table of Renegade Detroit Investors. She wasn’t mentioned in the Free Press article, but she followed her husband Jeremy Burgess to Detroit when they came here in 2007. She left family, friends and a great job behind to follow their dream.
You may have heard the story of how the Aztec conquistador Cortez, burned his boats when his army landed in Mexico in the 1500’s. He did it to make sure his troops knew they had no choice but to succeed.
Jeremy & Jeanna didn’t burn anything when they got here, but they did come with the “failure is not an option” mentality. They’ve survived several setbacks & failures, but remain upbeat and positive about their decision.
They may have found their calling when they met John George of Blight Busters. They’ve teamed up with him to turn trashed properties into cash. Now, they’re making a positive impact on the city of Detroit, while making money flipping houses.
Not only have they gotten involved with Blight Busters, but they’re also planning to organize other nonprofits and groups to improve a city that’s only been their home for two years.
If these two can come here and make this much happen in only two years, what’s your excuse?
What’s holding you back from jumping into real estate investing? The fear of failure?
If that’s the case, I suggest you either team up with Urban Detroit Wholesalers or hire them to mentor you. Don’t bother them though, if you’re afraid of hard work and success.
Drew Sygit is President of The Lending Edge and holds mortgage industry designations CMPS, CMC, CRMS, CMLO, CALO, has an MBA and is an approved industry instructor. He’s spoken for HUD, has written numerous articles and is a mortgage industry advocate for loan originator licensing and consumer education. He can be reached at 248-356-3739, dsygit at TheLendingEdge.com or read his blog: Drew’s Mortgage News
[tags]detroit,free press,blight busters,non-profit,success,real estate[/tags]