Welcome to DetroitProgress.com

March 13, 2008 by · Leave a Comment 

DetroitProgress.com is in the business of real estate investing in low-middle income housing within the Detroit area. We will be actively marketing both our wholesale and retail homes on the website along with updates on our progress. Our long term goals will be to provide low income housing to investors for the purposes of rehab, fix and retail single family homes, and acquire a large portfolio of residential homes.

In the past six months, one half of the partnership has been actively involved in the property preservation business of foreclosed homes. This business has allowed DetroitProgress.com to build relationships with banks involved in low-middle income housing financed in Detroit. The relationship has in turn provided an opportunity to purchase foreclosed homes in bulk at below market values. Our strong relationship with several banks gives us the opportunity to purchase properties before they become available to the public or listed on the Multiple Listing Service (MLS).

This relation effectively puts DetroitProgress.com at the front of the distribution channels of foreclosed housing. Strong rapport with the banks also creates an opportunity for those investors who are willing to work with DetroitProgress.com in acquiring assets at below market values. As an investor you will have an opportunity to purchase properties at substantially discounted market values. Your low initial acquisition cost will ensure that you have many options at your disposal. The exit strategies range from holding on to the properties for the long term to re-selling the properties at higher margins for a short term capital gain. Here are the best scenarios for an investor:

1. Property acquisition and liquidation to other investors at wholesale prices is one of the strategies. Once you have acquired the properties you will be able to re-sell them in “as is” condition to other investors at 30-60% LTV.

2. Property acquisition, restoration, and liquidation to consumers on the retail end is your second choice. In this scenario you would completely rehab the property and make it available for sale on the Multiple Listing Service.

3. In addition to being able to liquidate your acquired properties, you can create a portfolio of high return rental units by retaining the properties which are the best long term investments.

4. As a last option you can choose to do nothing and wait for the properties to appreciate or the market condition to fall in your favor. In this scenario you would rehab at a later date and then put it up for sale.

An amazing opportunity has been created by the sub-prime mortgage meltdown; will you profit from it? Detroit has seen record numbers of foreclosures with one of the highest rates in the country. This window of opportunity provides a surplus of housing made available to you through DetroitProgress.com. Join us by investing and improving one of the United States most historic and treasured cities.

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About

DetroitProgress.com is in the business of real estate investing in low-middle income housing within the Detroit area. We will be actively marketing both our wholesale and retail homes on the website along with updates on our progress. Our long term goals will be to provide low income housing to investors for the purposes of rehab, fix and retail single family homes, and acquire a large portfolio of residential homes.

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