The Michigan real estate market is ripe for property wholesalers. Is this the right niche for you? How do you do it well?
Why is this the right time and place for wholesaling real estate? Between the fallout of Brexit, the former CEO of Wells Fargo recently stating that he doesn’t advise putting new money into the stock market, and Janus’ Bill Gross saying how he doesn’t like bonds, but does like real estate; there are masses of individuals and dollars chasing new investment property opportunities.
Low interest rates are helping to fuel this surge, but both fix and flip rehabbers and buy and hold landlords need well priced property inventory. That is currently something which seems to be lacking in markets like New York and California. In comparison Michigan’s real estate market continues to offer plenty of affordable bargains. Of course; in order for these investors, and especially those out of state, or abroad, to invest – they need organized vendors to bring them deals.
MI real estate agents can certainly help in this. However, many investors are looking for off-market deals, or at least better prices than they expect to find on the MLS and major online listing portals. That creates great opportunity for serious wholesalers and even turnkey property providers.
As an individual the above also makes wholesaling a great focus for your own money and effort. In addition to offering some pretty attractive paychecks wholesaling houses in Michigan can also benefit our neighborhoods, communities, and the local economy. The more distressed homes and properties are dug up and recycled into valuable use the better it is for everyone. So you can get paid well for providing a valuable service as a wholesaler.
Of course there is a right and legal way to wholesale houses. And there are many that are not. A good MI title insurance company and attorney can help you stay on the right side of the law to flip houses fast and legally.
Going beyond the legality of the mechanics of wholesaling investors also need to recognize the importance of being clear, transparent, and helpful about educating potential buyers on what the product really is, and how to maximize the opportunity. For example; is this a property which needs a lot of work? Is it likely to attract a tenant or is it a long term hold play? How is the neighborhood? How should repairs and property management be best handled? The better you equip your buyers to maximize the opportunity the more they will refer you, and the more repeat business they can give you.
Need an investor friendly title insurance company in MI to help you? Get in touch with Michigan Investment Title Today…