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(MoneyNewsWire.Net, November 09, 2014 ) Detroit – Many people recently bought real estate properties at the Wayne County auction, and many of these people bought these properties with an eye on making a good investment, but after the excitement of the purchase dies down, many of these people do not know the next step to take. They have a property, but they do not know what to do with that property. Detroit Profitable Properties, a local real estate consulting firm, aids international investors in evaluating their properties after auction. The auction attracted investors from all over the world, and this company is positioning itself to help the investors who might be a little over their head.
The property and land rush generated interest from investors all over the US and the rest of the world, seeking to buy properties, some of which sold for prices near the $1000 range.
However, while these potentially cheap prices attract many investors, many homes that are sold in this auction present unique challenges. Buyers get Quit Claim Deeds, which can be tricky for a novice or non-local investor to handle. Sometimes, buyers learn that tenants are living in there, already, and evicting them is not always easy. Plus, not every neighborhood in Detroit has the same amount of renting or buying demand. In some neighborhoods, repairing a home is not fixing the problem. Plus, there are many other challenges for real estate investors after winning that auction bid.
Local real estate consulting firm Detroit Profitable Properties (DPP) is using this opportunity to guide these investors in the right direction. With its distressed homes and high-crime neighborhoods, there are Detroit properties not worth buying. DPP takes pride in its experience and knowledge to lead investors toward turning their uncertainty surrounding their recent auction purchases and guide those people into making more sound decisions with their newly purchased investment.
A DPP spokesperson remarks, “We know Detroit, because we’ve lived here all of our lives. We’ve watched neighborhoods go from good to bad, and we’ve seen some neighborhoods rebound nicely. Most people know about Midtown and Downtown, and they might even know a thing or two about the well-known historical districts, like Palmer Woods. However, the best deals within the City are located in the lesser known places that are good neighborhoods. There’s no such thing as a good home in a bad neighborhood, but buying a home in a good neighborhood won’t turn into a good investment if you don’t know what to do with it. The potential is there, but if you don’t know what to do with it, that investment potential will never be reached.”
There are still gems in Detroit that needs to be uncovered, DPP shares. A quarter of the city’s housing units are still vacant, resulting from the housing crash that stemmed from the now defunct auto industry the area was known for. Mortgage delinquency brought about many tax foreclosed homes owned by unemployed or underemployed homeowners. These houses, brick-laden construction with industrial finishes, evoke the spirit the Motor City that once made it famous.
Investors still see prospects in Detroit. The thoughts of Motown music, famous sports teams, and the opportunity to live cheaper than the rest of the cities in the US make this place a potential gold mine. Some desire to revive communities, while others seek to gain great additions to their investment portfolios for themselves.
Either way, real estate investors need to be wise on choosing properties they purchase, and they need to have a plan on how to use that property in the future. Fortunately, firms like DPP are providing local insight on ways to navigate the Detroit real estate market.
About Detroit Profitable Properties: Detroit Profitable Properties (DPP) helps people find the right real estate investment properties in and surrounding Detroit for any investor’s portfolio, not a property management company. The company works with local and international investors.
The company specializes with helping people find the right new investment properties to add to a portfolio and solving issues with problem properties currently in the portfolio. The company works with people who listen to problems and concerns and applies their expertise to take them to another level.
The company performs property evaluations, property analyses, fair rental value estimates, rehab/renovation cost estimates & services, title transfer service, investment property research and portfolio selection, emergency board-up service, tenant evictions. They are licensed and insured, use certified technicians and licensed contractors.
For more information about how Detroit Profitable Properties can help improve real estate portfolios with Detroit and surrounding Metro Detroit properties, call (248) 206-3047 or visit http://www.DetroitProfitableProperties.com.
Detroit Profitable Properties
William Beaner
(248) 206-3047
DetroitProfitableProperties@gmail.com
Source: EmailWire.Com 
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