Structurally sound houses for under $20,000 (US)

June 12, 2010 by · Leave a Comment 

Structurally sound houses for under $20,000 (US)

Detroit Progress isn’t the only company selling cheap Motor City homes. Azar said the owners originally got into the business “to flip houses just for the money.” But they named the company Detroit Progess “because the city’s so messed up and we want to try and help it.” Azar said the properties are structurally sound but often need work, like a new roof, new furnace or wiring. Sometimes this is a result of the house having been partly stripped by vandals as it sat empty between owners, even though Detroit Progress does “our best to secure” them. Azar said his company can help the city by having people buy equity in where they live and therefore rebuild neighbourhoods. “We try and make it affordable for anybody,” he said, noting there are government programs to help poor people buy homes. “With prices that are so low there’s really no reason anybody should be homeless.” Since the company purchases the properties they can extend financing without a bank... 

Detroit Progress LLC Update

April 24, 2008 by · Leave a Comment 

Detroit Progress LLC Update

The spring buying season is upon us and Detroit Progress LLC is making strides to ensure a profitable start. Detroit Progress LLC was incorporated on March 25, 2008 as a commercial real estate venture; the partnership between Edward F. Azar and David Pakhchanian will focus primarily on real estate owned (REO) homes. Our goals are to provide homeowners with the best quality home at a reasonable price, investors with the highest quality commercial properties, and ultimately benefit the Detroit, MI community. We recently made alliances with two premier Michigan area companies. Our first and foremost concerns were assuring smooth transition of property deeds so we appointed the Philip F. Greco Title Company. The Greco Title Company is one the premier title companies in the Tri-county area. Founded in January 1972 by Philip F. Greco, it has been an exclusive agent for Chicago Title Insurance Company, part of the Fidelity National Financial, Inc, the nation’s largest family of title Insurer’s... 

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...