Tagged: Michigan real estate

Nov 28

#ShopSmall, Save Big – Michigan Real Estate

Get ready to shop ‘small’ and save big in the Michigan real estate market this weekend!

#ShopSmall is the official hash tag for Small Business Saturday, which arrives this weekend. Sandwiched in between Black Friday and Cyber Monday this day makes up one of the most beneficial and meaningful.

It’s a great time to support the incredible Michigan entrepreneurial movement and support local small businesses, as well as scooping up great bargains on everything from loans to homes.

Experts predict this will be a $5 billion sales weekend. Hopefully much of that revenue will go to local small businesses which are largely responsible for job growth and boosting the local economy.

By ‘shopping small’ at local businesses it helps all locals and the real estate market. It can also mean big discounts too, and encourages more Michigan entrepreneurship.

Shopping small can also mean small price tags on big items, and there are many of these opportunities in the Southeast Michigan property market. Regional house prices are reportedly up 17% year over year, but there are still many deal among REOs, foreclosures and other distressed properties. Look to local real estate industry professionals for deals on their services and the best expert knowledge and service.

It’s a great weekend for Michigan real estate professionals to save big by shopping small business too. Fox Business suggests there are still some items which may be offered on better terms later in the season like tablets, DSLR cameras, brand name HDTVs, toys and Christmas decorations.

However, many will find deals on real estate marketing bundles, educational packages, events, books, subscriptions, office supplies and other essential business items.

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Nov 08

What does the Twitter IPO mean for MI real estate investors?

Social network Twitter took flight with its long awaited IPO yesterday. So was it another total flop like Facebook, and what does it all mean for Michigan real estate investors?

Twitter must have had its Redbull, because the stock certainly had wings. Taking off and rising almost 100% in the first day of trading the social shares claimed title to the second largest tech IPO in the U.S., beating out Google. The press and analysts were even much kinder than in their review of the Facebook IPO.

Of course the tech stock also dropped out of the sky just as fast, as if shot down by the stars of reality TV’s Duck Dynasty crew, winding up closing below opening price.

So what does this all mean for Michigan real estate investors, Realtors and home buyers?

This is another big wake up call to everyone that tech is definitely in frothy, Icarus territory, floating a little too close to the sun. Stocks in general not only offer pretty much zero protection for investors, but are also extremely volatile with little time to get out before seeing entire portfolios evaporated.

On the bright side this is a big thumbs up to direct real estate investors in MI, signaling that they are definitely on the right path. In contrast Michigan real estate is just beginning a new up cycle which could easily last another 15 years. Direct real estate investment, whether flipping houses or buying rental properties also offers a lot more protection and can deliver both passive income and wealth building simultaneously. That’s in addition to the tax and leverage advantages it offers.

Let’s not beat Twitter up too much though. It might be a cool stock certificate to hang on your wall and show off to the kids. More importantly for MI real estate professionals it can be a great platform for online marketing. With multiple ad and automation options Twitter could be exactly what many need for keeping up business, capitalizing on the end of year rush and being able to enjoy some well-deserved time off.

So love Twitter for what it can do for your real estate business, but stick to investing in brick and mortar Michigan property…

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Nov 02

Detroit Home Price Gains – Too Hot or Just Getting Warmed Up?

Are Southeast Michigan home prices rising just too fast, or is this just the beginning of a new era of prosperity for the region?

The latest data from the S&P/ Case Shiller Home Price Index which is often more conservative than other indices shows regional home prices rising 16% in the 12 months through August 2013. That’s 26 months of positive gains.

Some reader and attention starved media channels and voices have suggested area home values are rising too fast, even though 16% a year is hardly an overly rapid pace in this industry.

Ironically, looking at the hard data Michigan real estate could be among the healthiest and best value in the country. Those that sat on the fence and haven’t gotten into the market may not be happy about missing out on some of these great gains. Yet, fortunately they may still have a chance to grab a great deals on a home or even make some incredibly money investing in real estate here.

It’s true that there are still lots of foreclosures in process, though maybe not so many REOs as delinquent mortgages still gradually working their way through the pipeline. These defaulting home loans and foreclosure homes are not much of a danger to the market any more. In fact, most real estate investors wish that there were a lot more of them to buy.

For the pessimists out there is important to point out there are still great discounts to be found in the Michigan real estate market, and based on historical real estate cycles there could be another 15 years of growth coming. In fact, according to the latest Case-Shiller report the greater Detroit area is the only one of the major metros covered still below 2000 value levels.

With all of the development and investment going on to rebuild Detroit we could finally be seeing a glimpse of a new era of prosperity becoming a reality. Why not be a part of it?

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Aug 24

Cashing In On Michigan Real Estate For Risk Averse Investors

So you want to cash in on Southeast Michigan real estate, but aren’t sure deeply depressed downtown Detroit properties are the right match. What are your other options?

How can you lower your risk when investing in Michigan real estate today, and are there any safer bets than Detroit that can still deliver appealing returns?

There is no question that Southeast Michigan is ripe for investing and the market is booming thanks to soaring demand from builders, local entrepreneurs and global real estate investors. If anything the recent declaration of bankruptcy has only increased Detroit’s appeal on the world map and great strides are being made at all levels to pull the city up.

Still many savvy real estate investors are concerned about risk and are scared of investing in hard hit Detroit neighborhoods. Foreclosure properties are cheap. Yet, there is no denying that crime is an issue, there is no real telling how high prices will go in some neighborhoods (unless you are buying up the whole thing), packs of stray pit bulls are running wild, and of course the wonderful winter weather is on its way.

So where’s better to invest?

More timid and risk averse real estate investors might choose Oakland and Macomb Counties instead, and areas like Clarkston, Rochester and Shelby Township. This is a world apart from the problems of Detroit, yet will offers great discounts, appealing spreads and lots of room for growth and wealth building, as well as some very attractive home in solid neighborhoods and on the water.

In terms of lowering risk, adopting wholesaling as a strategy can provide fast paydays, while getting in and out quickly. Those set on buy and hold that want to reduce risk can check into self-directed IRA investing, make sure they have thorough title searches done, get a title insurance policy, and leverage local coordinator with good knowledge of the area.

Contact me for wholesale property leads, double closings for flipping MI houses, and a local expert than can help walk you through the process whether you are new to investing in real estate or are an experienced pro growing your portfolio!

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Aug 08

5 Top Real Estate Marketing Strategies For 2014

The market and game has changed dramatically. Are you using the top producing real estate marketing strategies for capitalizing on the rush and maximizing ROI?

As the Michigan real estate market has surged back to life so has the amount of competition real estate agents, investors and mortgage pros face when marketing their product and services.

There may be a lot of business to go around for Michigan real estate professionals right now, but the playing field will quickly be altered as the few demanding the most from their marketing enjoy the best profit margins and liquidity and choke the competition out of the running.

Just getting some inquiries, leads and closing some deals from whichever real estate marketing tactics you are engaging in is no longer enough. You’ve got to be getting the best bang for your buck.

Multiple shifts in technology, trends and the economy as well as industry players has completely reshaped what is working well and what isn’t over the last 6 months. Those with high hopes for 2014 also know that they need to be lining up leads now, planting the seeds for tomorrow and setting up the funnels that will drive their businesses throughout the next 12 months.

We’ve already seen email marketing, direct mail and cheapskate content marketing tactics take a major dive. So what should Michigan real estate professionals and marketers be engaging in now?

Try…

  1. Press releases
  2. Paid Facebook marketing by boosting posts, running ads and promoting contests
  3. Guest blogging
  4. LinkedIn which can still be free but is largely underutilized
  5. In person networking as so many others remain trapped behind their screens

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Aug 01

Minimizing Risk: 3 Ways A Great Title Company Can Save Your Investment

Minimizing Risk: 3 Ways A Great Title Company Can Save Your Investment

Michigan real estate is hotter than ever, but rushing in carelessly can be extremely costly…

Local entrepreneurs and foreign investors are scooping up Southeast Michigan homes in batches of 30 to 70 at a time with the perception that real estate here is so cheap it’s impossible to lose. Of course, that isn’t exactly the case. This may be an incredible time to create new passive income streams from rentals and build wealth quickly by flipping houses, but that doesn’t mean you should throw caution to the wind.

Right now there are three issues which are increasingly tripping up real estate investors, which could easily be prevented with the help of a good title company…

1. Rents & Tenant Deposits

While the market is great and the numbers might look good on paper endless issues can arise on rental properties if figures and data aren’t verified. A title company can obtain estoppel letters and verifications of lease amounts, status of rental payments and deposits. Without this and doing your own due diligence you could find you are taking over properties with far less coming in than thought, or where previous sellers have spent deposits and advanced rent.

2. Repair Funds

When buying foreclosures in Michigan today it is very common for investors to obtain financing which is supposed to offer additional payouts as repairs are made. Unfortunately unless this money is held in escrow by a title company on your behalf you might never see it as some have recently found out.

3. Searches & Insurance

The rush to acquire distressed property has been creating a lot of competition among home buyers leading some paying cash to forego thorough title searches and even title insurance for the sake of speed. Sadly in the wake of the housing crisis an enormous percentage of properties have clouds on title and even restrictions on resale. Without taking these steps you could find the sale voided or ownership not defensible, rendering the investment lost or at least unsalable.

 

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Jul 18

Has Southeast Michigan Finally Broken Through To Better Times?

Is Detroit’s bankruptcy a good or bad thing?

Michigan real estate and businesses have been turning around for several years, and the recent housing bubble and economic mess has been all but forgotten by many, accept for the opportunities it has left behind.

However, central Detroit has continued to suffer with vacant neighborhoods turning into warzones, public services and law enforcement becoming unreliable, and poverty a serious problem.

Efforts have been made to turn it around including new strategies involving bulldozing and rebuilding entire neighborhoods.

In the surrounding suburbs like Shelby Township, Rochester and others the woes of downtown Detroit can seem a world away, but certainly what is good for Detroit is good for the entire Southeast Michigan region.

In Oakland County new pioneers are innovating and looking to create a new generation of business startups and economic activity, while in Pontiac one beverage company owner plans to invest over a quarter of a million dollars in an art festival with goals of revitalizing the city.

While individual investors are trying to turn things around in Detroit one property at a time it’s been slow going. However, as many individuals and even giant automakers have recently seen, bankruptcy can be an incredibly positive thing. It’s a chance to reset and re-emerge in better financial shape and ready to plow ahead.

While there will be painful side effects for many, this is likely to be a pivotal moment that could truly and finally bring about a lasting rebound.

That doesn’t mean that everyone has to rush to downtown Detroit and scoop up every foreclosure home that they can get their hands on. Those that are still uncertain or who aren’t comfortable investing in the city will no doubt find that the ripple effect includes a significant boost to the surrounding economy and home values, driving up home prices, rents and increasing demand as many more are attracted to the area again or return home, inspired to be a part of the rebuilding.

The only question is; will you get in now and realize the best returns, or drag your feet and get in on the tail end once the best gains have already been had?

 

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Aug 17

How to Protect Yourself When Selling Your MI Home without a Realtor

Selling a home without hiring a real estate agent can be an attractive option for many Michigan homeowners but it also brings its risks and challenges. How can you ensure you remain safe and find a reliable buyer who won’t turn the transaction into a nightmare?

The desire to avoid paying hefty real estate agent commissions which can make selling a home virtually impossible in this market is perfectly understandable as well as how burnt out and untrusting of Realtors many homeowners are. However, trying to navigate the process of selling your home in Michigan in the current market without any professional help at all may not be a wise move either.

The Challenges & Dangers of For Sale By Owner Real Estate

For a start there can be real personal danger when trying to sell a home yourself. You need to have a plan for protecting your valuables and passwords when showing your home to prospective home buyers as well as ensuring your physical safety. Who will be your back up and how will you identify and record who comes into your home?

Paperwork is one of the most important parts of putting together a successful real estate transaction. If not executed correctly you could be giving away a lot more than planned or get stuck in a contract with a shady buyer who becomes a major headache.

This is all of course dependent upon getting action on your real estate ads in the first place and while interest in Michigan real estate is certainly heating up if you are facing foreclosure you may not have the luxury of a lot of time to experiment with different ways of advertising.

How My Coordinator LLC’s Team Can Help

My Coordinator and Continental Title Agency in Romeo, MI specializes in helping local homeowners and out of area investors who own property in the Macomb County area who want to sell their houses themselves.

For a start the My Coordinator site offers many of the essential real estate forms you will need to protect yourself in selling your home.

However we also offer access to professional tax accountants and real estate attorneys, who can help by reviewing your situation and paperwork in order to enable you to net the maximum possible from your sale, sniff out shady buyers early and even help you to structure seller financing arrangements correctly for maximum protection.

Perhaps we can even help you to find a buyer fast if you are facing foreclosure or really need to move as we are constantly help others looking for homes in the area.

Or if you decide it’s time to hire a real estate agent we would be happy to refer you to those who have proven reputable and provided great customer service to other clients of ours.

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Aug 14

No Money down Real Estate in MI: Flipping Houses with Transactional Funding

Mortgage money is tighter than ever but that doesn’t mean there aren’t 100% financing options for those flipping houses!

It isn’t just credit requirements which have been holding real estate investors back from funding their acquisitions with conventional mortgage financing. Limits on the number of financed properties, extensive reviews, tough appraisals, increased asset requirements all make for endless hoops to jump through, while processing times make these loan sources unfeasible for scooping up the best deals on distressed properties quickly.

Sadly hard money lenders have also become notoriously difficult to deal with and the rush to hunt down private mortgage lenders can be a trying and distracting venture for most investors. Fortunately there are other options.

Transactional funding is perhaps one of the greatest things to have come out of the recent foreclosure crisis. The best transactional lenders like BestTransactionFunding.com now offer 100% financing, plus closing costs for flipping houses; enabling truly no money down deals to be done. Better yet, transactional lending doesn’t require credit scores, income or asset verification or even an appraisal and can be used for flash funding to close on hot deals in just a couple of days.

Of course those Michigan real estate investors who are always thinking 2 steps ahead are probably already asking which title companies will facilitate double closings to capitalize on this great way to finance deals and where they can find more discounted properties to load up on.

There are title companies in Michigan who will do these double closings back to back providing they are legit and both really funded.

We all know that REO prices have been rising and the competition for them has been heating up. Macomb County investors know this all too well, following the recent blow out at the county foreclosure auction which saw all 650 foreclosure homes go to a single investor in minutes. However, that doesn’t mean there aren’t great lead sources out there for picking up discounted deals.
New software solutions providers like BankProspector promise access to bank REO data, while Default Industry provides access to hedge fund contacts and software for managing the short sale and REO processes.
Owner of My Coordinator LLC in Romeo, MI, Erika Weichel also has wholesale properties and bulk packages of distressed properties available and her title company can also facilitate double closings and connect investors with tax pros, attorneys and company formation services for investors in MI.

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