Blog

Everyone Is Not Happy About Your Success…Three Reasons Why

We all seek SUCCESS whether openly or secretly.

But there is one thing most of us are not ready for when it comes.

THE BACKLASH!

When you finally get the job you’ve trained for, the house you dreamed of, and/or the relationship you attracted…You Can Bet That Everyone Will Not Be Happy For You. Some will hate you and speak evil of you, others will even go so far as to praise you one week and be a willing party to your crucifixion the next.

WHAT CAUSES THIS PARADOX?

1. You had to make choices. When you make choices, you invariably leave behind the choices not made. Mixed in among those choices are people who are still back there at the crossroads you left behind.

2. You took action. People who are unwilling to take the actions that lead to success often feel betrayed by you.

3. You changed. Those who want to keep the status quo are afraid of how your changes will affect your relationship with them.

The backlash that can follow success is not about you at all. It’s about the inner turmoil of those who wrongly believe that your success in some way diminishes them. It doesn’t, of course.

Even though the weak and fearful will not be able to share your joy, continue to progress toward your goals, make good choices and enjoy your success. People will be inspired by you, and that makes all the difference in the world.

See You At The Top!

More Good News For Metro Detroit Property Investors

The real estate market in the metropolitan Detroit area is the worst in the nation!

According to a report from California-based data company Clear Capital, Detroit was the worst-performing metro with a 10.7 percent decline from last quarter and 19.6 percent rise in prices from last year. Nearly 50 percent of the sales were homes taken back by lenders.

What does all of this mean for investors? It means that there are plenty of deals to be had here in metro Detroit.

Use the “bad” economy to your advantage when negotiating with the seller. It is a numbers game. Always be tight with your money, throw nickels around like their manhole covers! The next deal is always one contact away.

Why You Should Be Investing In Detroit Real Estate!

Detroit investment property choices are larger than ever before. You can choose from many different types of property. The initial investment costs are very minimal. Due to the condition of the housing market in the Detroit area, there is opportunity to build a significant nest egg, even if you are not a professional investor. You must be willing to learn about the ins and outs of your Detroit investment area.

You should determine the condition of the property that you are considering so that you know it will provide the potential to reach your goals. The rental or market rates in the area are important when deciding on a piece of property. You need to know that you can find good renters and that property management can be accomplished. Learning all you can about Detroit property investment before getting too committed financially is important

The housing market today in Detroit is depressed. This makes for many investment opportunities. Some of the factors that are holding the market prices down include rising foreclosures, tax deed sales and increased number of sellers attempting to get rid of property that they can’t afford.

In MOST instances, homes and commercial properties are selling for ridiculously low prices. Housing auctions held by banks or at sheriff’s sales occur frequently both at local locations and as online auctions. You can purchase commercial buildings as well as residential and special use buildings at these auctions. You just need to do your research to find out as much as possible about the property, the area, and the type of deed that is being conveyed upon sale.

When you hire a property management company, they do the middle of the night calls. They take care of the plumbers, and any other management related issues you want. This is particularly helpful if you don’t live close to the property.

Whether you plan to rent the property or to resell it, finding the right people is critical in your ability to earn revenue from the property. You can turn this task over to a property management company. The company will do the screening and rent collection for you if your contract with them is set up in that fashion. The management company also can have the responsibility of keeping the property in good physical condition.

The type of Detroit investment property that you purchase will be dependent upon your investment goals. Are you looking for a quick return on investment? Do you prefer a long term capital growth? The answers to these questions can lead you to the correct choice of property. Be sure to talk to a tax accountant or attorney about the best way to set up your real estate investment business.

For help with finding your Detroit investment property check out these Detroit property experts.

Could it be so…Detroit – The Sam’s Club of cities?

In a fine example of turning lemons into lemonade, Detroit — once the poster city for high
labor, tax and operating costs — is getting noticed as a low-cost place to do business.

“Detroit is now competitive with many of the offshore locations,” says Timothy Bryan, chairman of Galaxe Solutions, a New Jersey software firm that plans to bring 500 jobs to the 1001 Woodward Building over five years. “Companies are looking to bring back jobs from overseas, and Detroit is in the best position of any city in the United States to compete for that investment.”

It’s about supply and demand. Vacancy rates in downtown buildings are at 70 percent. That creates a “make-me-an-offer” environment, driving down rents. Class A office space is listed in the $18 to $19 per square foot range, with many deals coming in much lower. That’s half the going rate in Chicago, and about the lowest in the country.

Detroit has the potential to become a high-tech hub — Strategic Staffing Solutions is adding hundreds of new IT jobs to the Penobscot Building — with smarter government policies.

If the city — the whole state, for that matter — were able to market itself as the low-cost locale for land, labor and tax and regulatory burden, it could parlay that into a jobs boom, and the start of a comeback. The marketplace is taking care of land and labor costs. Now we have to get the policy right. N. Finley

Detroit – A place of opportunity and creativity

Surely, we are all familiar with Detroit’s economic problems and urban decay – it has been the butt of jokes for generations and after the onslaught of this most recent recession, the images and stories of just how it is in one of America’s former industrial powerhouses have been nothing short of astonishing. With an unemployment rate in Michigan at about 15% – 5% above the national average – and a housing market that has tanked, the area has become victim to all sorts of real estate speculation, as some homes cost as low as $500.

The end result is that a great deal of Detroit land is embarrassingly cheap and thus easily repurposed. And this is potentially good news. As such, some bright minds have advocated remaking the city entirely, in addition to rethinking the design and function of cities in general. The city and its constituents have been wary of putting so much public space in the hands of a single, corporate entity, rather than in the control of the community.

Perhaps the most exciting idea has been the serious proposal of expanded and extensive urban farming. The idea is controversial, as it would require converting large amounts of public and private land (currently there is over 40 miles of vacant city land) being converted to essentially farmland, graded, raised and laid out in a manner to accommodate urban terrains.

While it is not wise to get overconfident in the hopes for these grand urban farming ventures in the face of such economic odds, these projects and ideas could potentially change how we think about not only our urban landscapes, but also our rural ones. One need only consider the immediate paradox that as we continue to industrialize the countryside and its crops, the cities would have access to fresh, local produce. Perhaps, in some strange irony of historical significance, from the ashes of the heart of American industrialism will come a return to the farm and the land.

Detroit area’s home prices stay below 2000 levels

Home prices in the metro area are 28% below what they were in 2000, according to the
S&P/Case-Shiller Home Price Indices.

The two markets that have held up the best since the housing crisis began? Washington, D.C., and New York. These markets are still 70% above their January 2000 levels. read more here ..

90% of Last Year’s Distressed Commercial Real Estate Still Unresolved

According to data released this week by Real Capital Analytics (RCA), $36.9 billion dollars worth of last year’s distressed commercial real estate is still in an unresolved status or being held by the lender. These numbers do not include new commercial real estate that could be considered distressed, but only commercial properties “for which sufficient time has passed for lenders and borrowers to facilitate workouts,” said RCA.

These “seasoned distressed” properties are mostly being held due to distressed commercial real estate loans, and they are held by commercial mortgage backed securities (CMBS) trusts and domestic lenders for the most part. Since CMBS loans tend to be resolved by loan restructuring, the lowered values of the properties and the changed finances of many of the lowers are leading, in many cases, to foreclosures where once a new loan simply would have been established.

And the commercial real estate market’s woes do not end there. In March alone, the net increase of outstanding commercial real estate distress was $4.8 billion, as newly troubled office properties, apartment complexes and retail properties entered the into distress status.

While this all sounds pretty bleak, in reality a lot of real estate investors are looking at the commercial real estate market in a new light. As the clear opportunity to help stabilize a market and generate wealth in the process has become evident, many investors are finding that the commercial real estate market – long the arena of insiders and experts – is becoming more accessible than ever before as the players struggle to resolve their issues, keep their properties and stabilize the commercial real estate market.

Detroit’s Future Landscape

There’s a lot of talk about the reshaping of the city of Detroit.  Mayor Bing has mentioned several times the city needs to be shrunk and so have many other community leaders and experts.

Urban farms are all the buzz and starting to take shape.  There’s some serious talk going on about copying Flint, Michigan’s land bank concept to expedite the re-landscaping of the city.

What will the city of Detroit look like in the future?

There will be a strong vibrant downtown core surrounded by 5-7 “pod” areas with a inter-dispersion of urban farms, industrial plants and ghost neighborhoods.

Some of the pod areas will be English Village, Corktown, University area, Palmer Woods/Sherwood Forest, & Mexicantown.  They’ll each eventually have their own distinct flavors and demographics.

The challenge will be keeping them connected to the downtown and interconnected with each other.  We may see some of these pods incorporate themselves and become their own cities surrounded by Detroit like Highland Park and Hamtramck.

I see all these changes as a positive as the city needs something to shake it at its core.  Too many Detroiters have a crippling entitlement mentality and will not change their ways without a major pattern interruption.  The city of Detroit needs its own Katrina like event to spur people into action, instead of sitting and sitting and sitting.

Why am I telling a bunch of real estate investors about all this?

Change brings opportunities for those that can envision the future.

The changes coming to Detroit are going to create many wealthy individuals that can see what’ s happening and have the resources to proactively take advantage of the changes.

Where in the city of Detroit should you be buying real estate?

Detroit is really trying to turn things around…

In a sweeping 5-year, $1-billion plan, 41 school buildings and 1 support building are slated for closure in June, with another 13 to be closed by 2012. DPS officials based this redesign in part on Detroit’s changing neighborhoods, comparing areas of growth to areas of abandonment. Here is a look at how those buildings fit onto a map of Detroit’s most vacant areas.

Detroit is starting to clean up its act

Detroit –A private foundation has enlisted, and subsidized, a noted urban planner to help downsize Detroit.

The announcement underscores the influence of private foundations in Mayor Dave Bing’s downsizing initiative. Foundations, including Kresge, helped fund Data Driven Detroit’s block-by-block study of vacancies and housing conditions that could serve as a blueprint for neighborhood consolidations. read more here

Next Page »