Detroit, MI

The Speaker This Thursday Sold Over 1000 Properties Wholesale and Sold +100 On Land Contact In Last 12 Months With No Rehab – “Come and Learn How!”

Tarik Dinha, local real estate investor, will share his success secrets: How to buy houses for less than $1,000, invest no more than $10 to put a “For Sale” sign in the yard, and sell it at a nice profit.

Come and network with others who are in the same boat as you are…hurry, before the boat sinks!

We are all about solutions to problems in today’s economy and the price of this event is … FREE!

That’s right; most of our events are free to attend and all are open to the public.

Success Breeds Success: Come and learn from a panel of experts who are successful, even in today’s economy.

We will also be providing vendor tables for business owners to market their services. Call Mark Maupin at 248-939-6232 to reserve a vendor table.

Real Estate Investing – Low Investment with Big Profits – and Owning a Small Business

The job market is not what it used to be; jobs are scarce and competition is fierce.

Are you concerned about losing your job?

Or, did you already lose your job?

Cut-backs result in fewer hours or less pay for you?

Are you Financially Stressed Out?

If you have answered “yes” to any of the above questions, you are not alone!

More and more people are starting their own business and using the internet to market and develop their business. We have put together a panel of speakers to provide a solution to your financial dilemma.

Tarik Dinha, local real estate investor, will share his success secrets: How to buy houses for less than $1,000, invest no more than $10 to put a “For Sale” sign in the yard, and sell it at a nice profit.

Mark Maupin will speak about using the internet for zero-cost and low-cost advertising for your business or services.

We will also have a professional in the mortgage industry and a private money lender on our panel.

Come and network with others who are in the same boat as you are…hurry, before the boat sinks!

We are all about solutions to problems in today’s economy and the price of this event is … FREE!

That’s right; most of our events are free to attend and all are open to the public.

Success Breeds Success: Come and learn from a panel of experts who are successful, even in today’s economy.

We will also be providing vendor tables for business owners to market their services. Call Mark Maupin at 248-939-6232 to reserve a vendor table.

Investors in Detroit have noticed for a couple of years European investors coming to the market for great bargains on investment real estate. It seems that 2009 is no exception as we have seen more European investors than ever purchasing cash flow investment properties. Whenever I tell someone this they invariably ask me why because many of them aren’t involved in real estate at all or they pretty much think that investing in real estate is the same here as everywhere.

Detroit real estate offers excellent bargains that are very difficult to find in the rest of the world. Our price points are very low (around $40,000 for purchase and rehab) and these properties still rent out for $850-$950 a month. It doesn’t take a genius to figure out that’s good for cash flow. If you add into that the weak dollar, which gives European investors another discount when purchasing our properties with the conversion from Euros.

Most of the European investors we talk to are investing for the cash on cash return and for the long term prospects of the investment. Unlike many U.S. investors, they aren’t looking for the “get rich quick” investment and are willing to invest in a solid property for the long term. This is going back to the way real estate investing used to be and I think it’s a great model. With Detroit foreclosures you get the best of both worlds. Monthly cash flow for a good cash on cash return and purchasing at 50% of the actual value of the house, which means great long term (10 years) prospects for value.

While there are some exception, for the most part European investor are finding successful real estate investors from Detroit so they can leverage their experience on how to create successful investment properties. Real estate investing is different than it is in Europe and Detroit is different than the rest of the United States or even Michigan. There are specifics in Detroit properties to watch out for like water, taxes, neighborhoods, specific streets, City requirements, ordinances, and other items. Working with a reputable Detroit real estate company will ensure that you know how to navigate through these. A good place for foreign investors to get more information is at our Detroit Real Estate International Questions page.

Our experience has been that more and more investors are coming to Detroit as it’s a great return on investment that doesn’t require a million dollars of investment capital. We have sold properties and made successful investors of European investors from England, Ireland, Scotland, Germany, France, and many other European countries. If you’re interested in investing check out our Detroit Real Estate site or leave a comment.

Jared Pomranky
Detroit Market Expert

Free Report on Detroit foreclosure investing "how to"
Detroit Real Estate market Detroit investment properties

We are the Short Sale Division USA (www.theshortsaledivisionusa.com) based in the Detroit, Michigan area. An attorney based company that handles short sale negotiations for Realtors and homeowners alike. As a Realtor, take the work you already do for a basic listing and pass it along to us to handle the negotiations. Saving you on average 80 hours of phone time and getting great results. Also releasing liability, our law firm assumes that role when we start the negotiations for you. There is no expense to you, our fee is put on the HUD. Do a basic listing, a couple extra doc's and you are done. We take it over from there and you will get your commission at closing which we are doing 7 out of 10 now. We have an entire staff of processors/negotiators that contact the bank every 2 days and post the results on our website www.theshortsaledivisionusa.com where you can view all of your properties and the progress we are making.

This is a great program for you Realtors in or outside the Detroit area, to keep listing short sales and let us do the work so you can keep making money. In some cases a double dip with our network of investors that are constantly looking for good deals on properties whether in Michigan or nationwide.

Those are some of the benefits to letting us handle a short sale or two to get going for you. As far as your client goes, they are able to avoid the embarrassment of foreclosure, the devastating effect it has on their credit and get into a house sooner rather than later. Again, at no cost to you, the buyer or the seller.

So, feel free to contact me however it is easiest for you, with any questions and I can explain a little further how easy this is and the opportunities out there for you to get the full benefits of our program for you and your client with no extra work and all the money. Check out our website for testimonials, the free stuff needed to get started and some extra info.

Sincerely, Rocco Kaleta

Here is another example of a recent Fair Housing Act lawsuit settled by the United States Department of Justice (“DOJ”). I try to post case summaries in order to provide timely updates to real estate professionals about the "dos and don'ts" under the Fair Housing Act, since fair housing is such an important issue.

On Tuesday, November 3, 2009, the DOJ announced the largest monetary payment ever obtained by the DOJ in the settlement of a case alleging housing discrimination in the rental of apartments. Los Angeles apartment owner Donald T. Sterling agreed to pay $2.725 million to settle allegations that he discriminated against African-Americans, Hispanics and families with children at apartment buildings he controlled in Los Angeles.

The lawsuit, filed by the DOJ in August 2006, alleged that the defendants, Donald T. Sterling, his wife Rochelle Sterling and the Sterling Family Trust, engaged in discriminatory rental practices on the basis of race, national origin and familial status (having children under 18) at various apartment buildings that they owned and managed in Los Angeles. Among other things, the lawsuit alleged that the defendants discriminated against non-Korean tenants and prospective tenants at buildings the defendants owned in the Koreatown area of Los Angeles.

The lawsuit alleged that the defendants violated the Fair Housing Act on the basis of race, national origin and familial status by refusing to rent to non-Korean prospective tenants, misrepresenting the availability of apartment units to non-Korean prospective tenants, and providing inferior treatment to non-Korean tenants. The lawsuit also alleged that the defendants refused to rent to African-American prospective tenants and misrepresented the availability of apartment units to African-American prospective tenants in the Beverly Hills section of Los Angeles. In addition, the lawsuit alleged that the defendants refused to rent to families with children and misrepresented the availability of apartment units to families with children throughout the buildings that they owned or managed. Additionally, the lawsuit alleged that the defendants made statements and published notices or advertisements in connection with the rental of apartment units that expressed a preference for Korean tenants and expressed discrimination against African-Americans and families with children.

In court filings, the DOJ presented evidence that the defendants' employees prepared internal reports that identified the race of tenants at properties that the defendants purchased in Koreatown. Additionally, the defendants made statements to employees indicating that African-Americans and Hispanics were not desirable tenants. The DOJ also presented expert analysis showing that the defendants rented to far fewer Hispanics and African-Americans than would be expected based on income and other demographic characteristics.

The defendants, who manage their apartments under the name Beverly Hills Properties, own and manage approximately 119 apartment buildings comprising over 5,000 apartments in Los Angeles County. The settlement also resolves two related lawsuits filed by former tenants at one of the properties. The two families, an African-American family and an interracial married couple with bi-racial children, alleged that the defendants demolished the private yards that had been part of their apartment and took other actions against them because of their race.

Under the terms of the settlement, the defendants are required to pay a $100,000 civil penalty to the United States. The defendants are also required to pay $2.625 million into a fund that will be used to pay monetary damages to persons who were harmed by the defendants’ discriminatory practices, including the tenants in the two related lawsuits discussed above. Any money left over would go to further fair housing education or enforcement in Los Angeles. The settlement must be approved by the court.

In addition to the payments in damages and civil penalties, the settlement agreement requires the defendants to take various steps to ensure non-discriminatory practices at their rental properties, including:

• Enjoining the defendants from discriminating on the basis of race, national origin, and familial status;

• Requiring the defendants to implement a self-testing program over the next three years to monitor their employee’s compliance with fair housing laws at their properties. The testing would be conducted by an independent contractor that would report the results to the defendants and the DOJ;

• Requiring the defendants to maintain non-discriminatory practices and procedures; and

• Requiring the defendants to obtain fair housing training through an independent contractor for their employees who participate in renting, showing or managing apartments at the properties.

Source: U.S. Department of Justice press release and legal complaint and settlement documents(portions of press release used with permission)

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To learn more about fair housing issues (along with a variety of other real estate topics), please visit us at www.123ConEd.com. We are the leading online provider of Michigan real estate continuing education. All of our courses are fully approved and properly certified by the State of Michigan, and are offered online.

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