What Kind Of Properties Should Michigan Real Estate Investor Look For?

(EMAILWIRE.COM, June 04, 2007 ) Livonia, MI -- The new Michigan investor has several categories of real estate available. The easiest and best for a beginning investor to understand and participate in is the single-family home.Why?1. Homeownership in America is approaching 70%.2. Single Family homes are the highest demand type of property.3. They sell quicker than other kinds of real estate.4. Prospective purchasers have the widest range of financing programs available to them, making the property easier to purchase.If the property does not sell in a reasonable amount of time, it can be rented or lease on a rent to own.Ugly Properties or Houses: Why should you buy the ugly duckling house?The best property to buy is an ugly one. Look for the property that has never been "updated" or improved or one that has been improved, in a very tacky way. Don’t be deterred by the pet urine, feces, or mice droppings. Where some see damage and odor, you should see dollars and opportunity.Ugly ducklings are the houses that have the least competition, houses that can be fixed up by remodeling, not by rebuilding.Many people are scared about things like leaking roofs and broken windows. Be happy to see those things. They’ll discourage most inexperienced investors from purchasing the property. In many areas, you will be competing for some deals with “do-it-yourself” homeowners.They may outbid you simply because they figure they can buy a home for $50,000.00 that will be worth $70,000.00 when they’re done fixing it up. It never occurs to them that they will spend $10,000.00 for materials and professional labor, one to two years working on it, and live in a construction zone the whole time. The oddest thing about it is that most people will sell the home when they're done, thinking they did great (although they really broke even) and start the process again.Buy and sell works best in a 90-120 day time frame, with professional contractors quickly completing decorating, repairs, and renovations.Where do go to meet the like mind people to get trained in the real estate investing business?The best place to go is the local REIA close to you! Real Estate Investor Association is called REIA. The investor associations are formed for the purpose of investor education, networking, and training. They bring national and local real estate experts to their meetings. They have training on wide topics like: foreclosures, pre-foreclosures, land lording, rent to own, lease options, short sales, deed offs, credit, wholesaling, find, fix, and sell, private money, lines of credit, and accounting. These are just a few of the topics they speak on.How does new investor find a Real estate investors association or groups in their area? Go on line to Google.com and do a Google search on any of following: Michigan REIA, Michigan Real Estate Investing Clubs, Michigan Real Estate Investment Association, Michigan REIAs, Michigan Real Estate Investing Classes, Michigan Real Estate Investing Groups, Michigan Landlord Club, Michigan Real Estate Mentoring Programs, Michigan Foreclosure Boot Camp, Michigan Real Estate Training Classes, Michigan Real Estate Seminars, Michigan Real Estate Schools, Michigan Real Estate Courses, Michigan Real Estate Investing Network, Michigan Real Estate Conventions, Michigan Real Estate Boot Camps, and Michigan Real Estate Forums. Using www.google.com as search for topic like how to find a Michigan boot camp or Michigan class on foreclosures in the state or city you are in works great. Ralph Marcus Maupin, Jr. Nick Name ‘Mark’ is one of founders of National Real Estate Network LLC. He teaches real estate investing for college. You will find many free resources such as: Free Real Estate Forms, Terms, Articles and Real Estate Clubs Locations at: http://MegaEveningEvent.com.###This press release was issued through Groupweb EmailWire.Com. For more information on press release distribution, go to http://www.emailwire.com.

National Real Estate Netroit, LLC
National Real Estate Network

mmaupin@donaterealestate.com