This seems like a simple question, doesn't it? I would agree but there's a difference between answering a question with words and answering it with actions. Many people know that the successful way to invest in real estate is to leverage other people's experience and proven processes in order to be successful yourself, yet few actually do this.
Let me take that back. All of the investors that purchase our Detroit wholesale properties leverage our experience and success by using our proven systems and on the ground team of contractors, property managers, inspectors, insurance agents, mortgage brokers, property security, and other professionals. These are the same people that we have used and proven on our individual projects over our investment careers.
Who would benefit from leveraging the experience and team that two successful real estate investors have built? Well, if you're investing in Detroit rental properties and foreclosures, or you want to, then that's you. We specialize in creating successful out of state and out of country investors in Detroit when they otherwise would struggle to finish projects or would just plain fail. We take first time real estate investors and make them Detroit Real Estate Moguls. We also take successful investors from other markets and provide them with the tools they need to dominate the Detroit market.
We have a different perspective on customers here at Urban Detroit Wholesalers and that sets us apart from every other investment company in our market. We realize that by making a new or experienced investor successful on their first couple of investment properties in Detroit, we are creating long-term investor that will continue to invest in Detroit. That's what we have created and in a continuing effort to make that happen, we are rolling out an update to our customer service with each Detroit property.
When you're investing from out of state, or especially from out of the country, there are challenges in coordinating rehabs. There are time zone changes, differences in Detroit norms, your job, family, and just other things going on. We understand this and we won't let this hold you back from being a successful investor. Starting today, we will make being a successful Detroit real estate investor one step closer by managing the entire rehabilitation process for you.
You will still have the final say and total control over the process but we will remove the day to day phone calls and check-ups out of it for you. Instead, you will review weekly progress reports, estimates, and pictures from your project. You will contact one number to ask questions, make changes or inquire about anything else that you need instead of multiple numbers. You will save time, money, and headaches. You will be successful. This service is included in each Detroit investment property purchase at NO ADDITIONAL CHARGE.
So let me ask you again, would you rather be a Busy or Successful Detroit Real Estate Investor? The choice is yours.
Successfully Yours,
Jared Pomranky
Detroit Market Expert
Visit us on the best Real Estate Networking Site and sign-up at Active Rain - Detroit Real Estate
Detroit Investment Properties - Our website for wholesale deals and information
Detroit Real Estate - Our Blog on Detroit Real Estate
Cash Flow and Property Analysis Spreadsheet
8 Secrets to Hard Money Lending in Detroit
Discover 8 Golden Steps To Amazing Detroit Real Estate Investment Riches and Become a Cash Magnet Overnight!
At Last, A Simple But Surefire System For Instant Investment Success!“It’s Time to Realize Resounding Results Where Most Investors Fail”Did you know that investing in Detroit properties means:
• That you can purchase Detroit investment properties at the lowest prices in the country? • You can buy wholesale properties in great neighborhoods that produce incredible cash flow? • You can purchase beautiful brick homes built for the middle to upper class? • You have daily opportunities to buy ready-to-rent, cash flow properties at 50% of value or less? It’s true! And if this is something you want, which of course it is, then you are ready for investing in the cash-laden, Detroit real estate market! “Learn the 8 Golden Steps that Successful Detroit Investors have been using for years to stuff wads of CASH in your pockets!”Whether working at your J.O.B. (Just Over Broke) or whether sitting on the beaches of Maui, you can count on a truly passive income stream with Detroit real estate investments without making the 8 common mistakes that second-rate investors make. Oh, you’ll hear that now is not the time to purchase rental properties as investments – but don’t listen! Don’t follow the crowd and simply lead a mediocre life. Be extraordinary with Detroit investment properties that give you the freedom to go anywhere and do anything!
Learn the secret of investing in wholesale Detroit real estate without ever leaving your home!!!Why spend costly time, money, and energy driving around Detroit if you can use the 8 Golden Steps to ensure quality investment properties and proven results? Our methods will help you set up your investments correctly the first time and then you won’t have to be on hand to be successful.
Hi! We are Jared J. Pomranky and Jeremy A. Burgess – long time real estate investors with advanced knowledge of the Detroit area market. Everyone on our winning team from property manager, to general contractor, to rehab crew has invested in confidence and with success using the methods we’ll give you for free in our report. The best part is that by following 8 simple steps, you can have the wealth you deserve! Our report, “8 Steps to Ultra-Successful Investing in Detroit”, will provide you with: • Advanced, easy to follow instructions on Detroit real estate investing • Tips that will save you thousands of dollars in theft and vandalism • Peace of mind knowing that your investments are going to skyrocket from now on! Whether you’re an experienced investor or just starting on the road to riches, you need to learn how to successfully invest in the Detroit real estate market. Don’t assume that every market is the same – that mistake will cost you thousands! Instead, read our FREE report and find out what we’ve known for years! What do you want out of your investments?
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Detroit Real Estate Investment Secrets |  |
Jared J. Pomranky Jeremy A. Burgess
Jared J. Pomranky Jeremy A. Burgess
P.S. This is truly a no-catch offer. We believe in this information and in investing Detroit, Michigan so much that we want to spread the knowledge.
P.P.S. You have nothing to lose by reading our free report that will make your investments ultra-profitable and make you wealthier than you ever dreamed possible!
Visit me on the best Real Estate Networking Site and sign-up at Active Rain - Detroit Real Estate
Detroit Investment Properties - Our website for wholesale deals and information
Detroit Real Estate - Our Blog on Detroit Real Estate
Cash Flow and Property Analysis Spreadsheet
8 Secrets to Hard Money Lending in Detroit
"The future depends on what we do in the present." ~ Mahatma Gandhi |
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Never has a quote meant so much than today in our State and especially in Detroit, Michigan. How are you currently shaping your future? Are you sitting back and watching what happens in the real estate and financial markets or are you forging ahead and creating your future with sound decisions today? I know many people are scared and are just sitting back and letting someone else shape their future, which leaves them helpless. We are literally sitting on a gold mine in Detroit real estate but many of us are just too close to see it or are unwilling to see it. When the rest of the country saw huge appreciation gains, Detroit real estate prices were declining. Many people saw this as a reason to run but taking an objective look at the investment properties in Detroit, the cash flow available, and the huge discounts with foreclosures, and I see opportunity! I know you won't find another place in the country with as much potential as we have in Detroit. I'm not saying that we're not going to go through our share of challenges and obstacles in the meantime but the investors and business owners that make sound business decisions today and those that work on their business today are going to be the ones that capitalize when our market turns around. I can already hear the cries from the people in 5 years that kick themselves for not buying that house that was $25,000 or not investing in that business that's taking off with the new economy. How many of you will be telling these stories?
In the past many people that have created great wealth, did so by investing in down markets. Do the names Warren Buffett, J. Paul Getty, and Donald Trump ring a bell? I don't want anyone to go out and make rash business decisions but open your eyes, recognize the fear for what it is, and start taking action towards your future.
Successfully Yours,
Jared Pomranky
Detroit Market Expert
Visit me on the best Real Estate Networking Site and sign-up at Active Rain - Detroit Real Estate
Detroit Investment Properties - Our website for wholesale deals and information
Detroit Real Estate - Our Blog on Detroit Real Estate
Cash Flow and Property Analysis Spreadsheet
8 Secrets to Hard Money Lending in Detroit
Note: This blog was created by my business partner Jeremy Burgess and is reposted here with his knowledge and consent.
Do the news and the media have you pulling cash out of your bank account and stuffing it in your mattress? Do you see the world ending and life as you know it coming to a stop? Are you staying awake at night worry and feeling uncertain about you and your family's future? Now is the time for a frank discussion about why current events HAVE to happen, HOW it is going to happen, and what the future REALLY looks like.
The boom was generated primarily by three events: 1. Ready availability of cash for banks to lend 2. Low cost for consumers to borrow that money 3. Lower taxes.
All of the three had the effect of consumers spending more money. This was sponsored by the government to keep the economy growing because that is what voters want. This increase in consumer spending was the only thing keeping the economy growing because in reality it should have been declining.
Manufacturing and productivity in America has decreased dramatically over the last 12 years. Combined with a Trillion dollar trade deficit, it is incredibly difficult for an economy to grow. The result should have been a declining economy and would have been without government interference. In lay man's terms: if you don't spend your money in this country and you spend it in other countries (oil and trade deficit with China), other countries will grow and you won't. This is not a political statement to buy American, I'm just stating a fact. America hasn't done enough to replace the "lost" money so our economy should shrink and continue to shrink slowly over time as the money continues to be "lost".
House values increased dramatically primarily for two reasons: 1. Lower interest rates 2. Speculation (herd mentality).
Most consumers are buying a payment when they are making a major purchase like a house. So the cost of the house isn't as important as the payment on the house. Here is an example: Joe and Jane want to buy a house and they can afford $1200 a month for a mortgage payment. For most of America's history, interest rates were in the 8%-10% range. At 8.5%, they can afford a $156,000 mortgage. At the artificially low interest rate of 5% Joe and Jane can afford a $223,000 mortgage! That is a full $67,000 more than at 8.5%! Lower interest rates encouraged consumers to pay more and buy more house than they could normally afford. This started the house value increase. After a few years of appreciation, speculators came out of the wood work and started bidding up the sales price of houses, sometimes even above the list price, with the hope that prices would continue to increase. These speculators would sell in 3-6 months after the house had appreciated enough to generate a profit. Soon the "average Joe" felt like they were being left out and if they didn't buy now, they would never be able afford a house. In many cities, houses were selling hours after it was listed for thousands of dollars more than list price. During this period some houses were doubling in value in as little as 2 years! With banks eager to lend money at low rates, the vast majority of Americans refinanced their homes to access their "equity" which was spent or invested, allowing the economy to grow. People "got drunk" on the easy money and spent up a storm unlike any other time in our history. As a nation we went crazy, leveraging ourselves with cheap debt, spending it all and for the first time ever, we spent more than we earned.
Our economic growth should have been flat or slightly negative based on our trade deficits, declining manufacturing, and declining productivity. In addition with our budget deficits, government overspending, and the continual devaluation of the dollar, interests' rate should be closer to 8%-9% to protect against inflation.
With our current credit crunch and with most of our large banks deleveraging themselves, borrowed cash is going to be very scarce for a few years. This should send us into a recession until real estate and the economy come more in line with the average Joe's income and affordability.
Where is this level at? Since most of the rise was artificial, most cities and states will fall back to or near pre-bubble prices and affordability. My prediction is at least to year 1998 and maybe even as far for some cities as 1991 real estate and affordability prices. Bottom line is we still have a long way to fall in most parts of America.
It is safe to say that we will never see that kind of crazy bubble and consumer spending again. A good friend and client of mine, David Butler of Hot Spur Investment Group (www.hotspurinvestmentgroup.com ) has a great analogy for this. If you go out and get crazy drunk, party, and paint the town red, odds are when you wake up it's with a terrible hang over. When you recover and your head ache is gone, do you expect to be drunk again? Of course not! So we are recovering right now but don't expect when the headache goes away to be drunk again.
You can't predict the bottom of the market or when the economy will recover. However, you can establish the bottom by basing your real estate investment on affordability. Affordability is time tested and conservative approach to real estate pricing and values. While much of the due diligence can be somewhat challenging and complex, your main variable is the income of the average "Joe" and what he can afford. This brings us full circle and explains how you can create certainty, plan for the future, and profit by seeing things how they really are.
Wages are stagnant in most cities and states and interests rates will likely go up to 9% to curb inflation. Before you invest in any city in America you need to find out the average income of the people living there. Multiply their annual income by 28% to conservatively determine the annual mortgage payments they can afford. Divide the annual mortgage payments they can afford by 12 to determine the monthly mortgage payment. Now using our conservative interest rate of 9% (where it will likely be in 2-3 years) you have just established the bottom of the market based on affordability.
Below is an example based on Detroit Average annual income: $39,000 Multiply by 28% for annual payments they can afford and divide by 12 for monthly payment = $910 Likely Interest Rate: 9% House Value based on interest of 9% = $112,000
Based on affordability the average Joe can afford a house worth $112,000 with interest rates at 9%. As real estate investors we need to buy and fix up a house for 60% of the properties values to guarantee that we will make money. 60% of $112,000 is $67,200. It is not difficult to purchase a house in Detroit and fix it up for much less than $60,000.
I want you to apply the same conservative approach to real estate that I do. It is time for you to put the cities you are investing in under the microscope. I'm betting that many of you are buying at too high of a price and probably need to establish the bottom of your market the correct way. If that is not currently possible where you invest, I encourage you to take a good hard look at investing in the city of Detroit where the bottom is already set.
Make your life uncomfortable,
Jeremy Burgess
Visit me on the best Real Estate Networking Site and sign-up at Active Rain - Detroit Real Estate
Detroit Investment Properties - Our website for wholesale deals and information
Detroit Real Estate - Our Blog on Detroit Real Estate
Cash Flow and Property Analysis Spreadsheet
8 Secrets to Hard Money Lending in Detroit
I read an interview with Warren Buffett the other day and it helped reconfirm the optimistic feelings that I've had. I know it's a challenging financial market out there and everyone wants to spell doom and gloom but this is one of the best times to take a step back, evaluate the situation, avoid the hype, and see what the experts are doing. One of my favorite quotes from Warren Buffett is:
"Be Fearful when others are Greedy and be Greedy when others are Fearful" ~Warren Buffett |
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Tell me that isn't relevant in this market and very relateable to the real estate market. Guess what Warren Buffett is doing? Following his own advice by investing $5 billion in Goldman Sachs on September 23 and $3 billion into GE on October 1st. Does that sound like someone that's scared about where the market is going or someone that is confident about where the market will go and excited about the sale on investments?
What does Warren Buffett say about the bailout plan, besides it being an unfortunate name, is that while not perfect, it's going to do what it was set out to do. He also said that he believes in it so much that given the opportunity to invest 1% into the deal, he would invest the $70 Million dollars as a sound investment because he feels like it is the type of deal he likes to invest in and will make a great return. Merrill Lynch just sold mortgage-related assets at 22 cents on the dollar and this is the same type of products that the government is buying. It's a great power play buying discounts at already discounted prices on these assets and he states that these are the same type of assets that hedge funds are buying for 15%-20% returns on their investment. The biggest advantage that the Federal Government has is their low cost of borrowing. They can borrow money cheaper than anyone else and hold on to the assets longer than anyone else to sell them at a higher price.
Where does this leave you as a Detroit real estate investor? Well, with the frenzy that has been created lately, the drop in the stock market, and uncertainty by the herd, it's a great time to follow the master and start investing. Action has been taken to stabilize and start to grow the economy and it sounds like the right steps have been taken. The time to act is now to take advantage of low prices before everyone else starts to see it when the economy stabilizes. Unless you're a stock market guru to make big power plays on assets that you know are undervalued, it's time to look at assets that are much easier to value. Hard asset in real estate that cash flow numbers are easy to calculate.
Detroit Investment Properties continue to be an excellent investment for cash flow and long term upside potential. If you're on the fence, you need to talk to the experts that are investing day in and day out in the area. We are available to answer any questions, provide recommendations for excellent contractors and property managers, and show you the best areas to invest in. Read our Detroit Real Estate FAQ to review information on Detroit wholesale properties.
Successfully Yours,
Jared Pomranky
Detroit Market Expert
Visit me on the best Real Estate Networking Site and sign-up at Active Rain - Detroit Real Estate
Detroit Investment Properties - Our website for wholesale deals and information
Detroit Real Estate - Our Blog on Detroit Real Estate
Cash Flow and Property Analysis Spreadsheet
8 Secrets to Hard Money Lending in Detroit
I am a Detroit Real Estate Investor focused on Detroit Investment Properties, wholesales, foreclosures, cash flow, and making others successful. Visit us for great deals at www.WholesaleMi.com.
Urban Detroit Wholesalers, LLC is the premier Detroit Foreclosure Investment Property experts. We provide end to end solutions for rehabbing and renting for high cash flow and a hands off approach through property management. We know you're busy so you leverage the contacts that we have made over the past 5 years to be successful. Check out our main website at Detroit Investment Properties and our blog at Detroit Investment Blog. If you're interested in Detroit Real Estate investing, make sure you visit Detroit Real Estate Secrets to get some great tips!
Check out this video on our company and Detroit: Urban Detroit iMercial
I also run a real estate and entrepreneur group that meets the first Tuesday of each month. Go to www.WCRTDetroit.com to get more information. It's a great place to network!
Our area of expertise is in Detroit Wholesales, Detroit foreclosures, and wholesale investment properties. We create great deals for out of state and in state investors to purchase and rehab rental properties for extraordinary profit. Many of our investors find they can buy a Detroit property in a great area and rehab it for a total of around $40,000. These are the same houses that are renting for between $850 and $950. Even better, we have the team and expert in place that you can leverage to be successful.
Listen to what Fred B. has to say about us: Detroit Real Estate Testimonial #1
Here's a great testimonial from Jodi Musik about her experience with us: Detroit Real Estate Testimonial #2
Detroit Real Estate Testimonial #3 from Jason Imbruglio
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