How to find good investment property in Metro Detroit

Lots of investors are looking to get started, and as active real estate experts in Metro Detroit Michigan, we get asked to share our secrets quite a bit.

Fortunately, we love to share 🙂

One of the biggest questions we get from local investors is ” How to find good investment property in Metro Detroit Michigan?

With the flood of foreclosure deals all but dried up (compared to where they were a few years back)… people are having to get more creative in finding the best deals on great local Metro Detroit investment properties.

We source our properties from a variety of marketing routes… online, offline, etc… so there is no one way that is the best way to find good investment properties in Metro Detroit.

But the info below walks you through some ways you can put to action to find great properties to add to your investment portfolio.

Most investors are afraid of competition – they think that if they share their secrets, someone will steal their ideas from them.

That’s not how we work. We work with other investors to accomplish things together that we can’t do alone.

We share our learning and our philosophies here because we want to improve the quality of investment in Metro Detroit to build stronger communities. Ultimately, we’re all investing in the same places, so it makes sense to do it right.

There’s a few core principles that are important to understand if you want to get the best investment property deals.

First, think long term.

Real estate doesn’t move like the stock market. It’s where people live, work and play – not just numbers on a screen. It’s almost impossible to make a huge amount of cash in a short-term real estate deal, those come few and far between.

So don’t expect to get away with fancy tricks, or that you’re smarter than the people who have been doing this stuff for years. Thinking long-term means learning from the past to better anticipate the future.

It also means that if you don’t find the local investment properties you’re looking for right away… just know that this isn’t a sprint… it’s a marathon.

That’s why it’s a great idea to find several sources of properties that fit your criteria (like our Metro Detroit Investment Property Buyers List >> ) so you have a heavier flow of great deals to look at.

Second, focus on relationships.

The investment community in Metro Detroit is much smaller than most people think.

There are only a handful of brokers and investors who conduct most of the business in the market.

They’re used to working with the same people on a regular basis. It’s worth the time and effort to find them and learn from them. If you can, work with them. They’re your best source of good deals, now and in the future.

How do you get to know them? Go to your local REIA and find the people who are active and talk to them. Ask them which real estate agents they use, what wholesalers in the area are active (and get their info) and let everyone you can find know that you are looking for investment properties that fit your criteria.  Learning how to find good investment property in Metro Detroit isn’t hard thing… but relationships can be a key element in getting some of the best deals on properties that no one else has access to in the Metro Detroit Michigan market.

Who should you get to know?

  • A few of the top investment friendly real estate brokers in Metro Detroit
  • A couple real estate appraisers who deal w/ the types of properties you deal with
  • The top handful of property wholesalers in the area
  • The top handful of property rehabbers / flippers in the area
  • Title agents that deal with investment properties a lot

Third, identify your target investments.

Investment is like many other aspects of life – the people who are the most focused often succeed the most. You have to find your niche. Some people make millions just in parking garages or storage units.

Others specialize in residential apartments, while others deal strictly with retail. If you take the time to do your homework, you can analyze the different segments of the market to see which opportunities are truly the best for you – and not just the best marketed. Once you find exactly what you want to own, you can create a plan to find out who owns it and make sure that they know to call you when they want to sell that property.

This takes a lot of work, but it’s a tried-and-true method for creating long-term wealth.

Finally – use technology.

Sign up for our list of exclusive properties, and we’ll notify you instantly when we find a great investment.

We frequently source properties for deep discounts, secure them and then sell them for a discounted rate to the people on our list who are ready, willing and able to invest. There’s other ways to get notified about properties on the open market – you should get familiar with searching the multiple listing service with the rest of the herd, because every once in a blue moon a great deal shows up.

We don’t deal with average deals – we only pass along great deals to our partner investors. We’re not real estate brokers, and our business is a niche within Metro Detroit.

If you’re looking to seriously invest in Metro Detroit, we’d love to chat with you to learn your wants, wishes and objectives.

So hopefully you now know how to find great investment properties in Metro Detroit. If you have questions give us a call or join our buyers list below!

Give us a call (586) 697 0065 or fill out the form to get started now.

Timoune

About Timoune

Christian Chabi is active in the Real Estate Marketplace in Metropolitan Detroit. He buys and sells Real Estate for his own portfolio and helps others reach their Real Estate Investment goals. In a fast-paced and dynamic industry, Christian Chabi’s approach to Real Estate investing is no-nonsense, high-energy and knowledge-based. He has studied with the best investors in the game, and is a voracious reader. He applies his knowledge with a “show me the money” frame of mind insisting that knowledge must be applicable not just theoretical. In other words, he tests all the principles he teaches with actual profit (or loss) experience. Mr. Chabi is experienced in fix and flips, as well as buy and hold, scenarios. Depending on the profitability he will do either one with confidence. Core to his philosophy is his desire and willingness to work with others. His belief is that people are more valuable than any commodity. At any given time Mr. Chabi is working in some capacity on several projects (as a Real Estate Agent, Investor or Partner). He is particularly fond of helping investors get their FIRST property. He has written several books on the subject and numerous articles. He teaches new investors to define their goals, plan their strategy and implement their Real Estate Investment Program with confidence and humility. Some of Christian’s Mantra’s are: - Ask questions until you are satisfied with the answers. - If it doesn't make profit-cents, then have the sense to walk away. - Be patient. Look for deals that have your name on them. - All deals must be win-win for all involved.
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