FLIPPING PROPERTYS IN DETROIT MI
I AM A NEW INVESTOR. I AM ENTERESTED IN FLIPPING PROPERTYS IN THE DETROIT AREA. I WOULD BE APPRECIATIVE IF ANYONE COULD GIVE ME POINTERS ON LOCATING GOOD PROPERTYS THAT WOULD YIELD A GOOD RETURN. I AM ALSO LOOKING FOR BIRD DOGS. carl.gooden@sbcglobal.net[ Edited by CGOODEN on Date 05/04/2003 ][ Edited by CGOODEN on Date 05/04/2003 ]
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Hi CGOODEN,
I understand that Detroit is awash in fannie mae foreclosures. If you can line-up rehab buyers, then do assignable offers and/or purchase and sales agreements, you should be able to flip some.
Dealing with the Realtors may be a drag, though, unless you can become prequalified and have some cash to put down. However, you should be able to get control of lesser properties pretty cheaply.
Here’s the link to the foreclosure page at the fannie mae site:
http://www.mortgagecontent.net/reoSearch/reoSearch?template=FM&env=3&p=Becoming+a+Homeowner&s=Fannie+Mae-Owned+Property+Search&p=Resources&s=Fannie+Mae-Owned+Property+Search&p=Resources&s=Fannie+Mae-Owned+Property+Search
Hope this helps.
wgheisler