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Michigan, Florida Markets Top List of Most Dangerous for Investors

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Mortgage Professional America | 14 Mar 2013, 01:25 PM Agree 0
Thirty-eight real estate markets have been tagged as “dangerous” for investors looking to make money on buying homes as rental properties in new quarterly data compiled by HomeVestors of America (known as the “We Buy Ugly Houses®” company) and Local Market Monitor.
  • Jeff | | 18 Mar 2013, 04:41 PM Agree 0
    Not a good idea to label a whole state as dangerous because of three cities. I am a broker in the suburbs of Detroit and I can tell you investors can very well here. There are pockets of neighborhoods that are turning a huge profit right now for investors that bought foreclosures in the last three years and are selling now. In Oakland County where my office is located, sales prices are up 47% from 2012. A recent investor bought a home for $36,000 in 2009 and recently sold for about $175,000. There were about $50,000 in capital improvements. Like anywhere in the world, you just need to know where to invest. There's still a window of opportunity in some areas for cash investors to make money but that window is closing.
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