Real Estate Agent · Los Angeles · Member since 2017 · 107 posts · 33 votes
Not a lot of activity on these forums. I'll be moving out to the Dexter area in a few weeks looking for some single family flips. It feels like there might not be a lot of wholesaling activity going on there--?
Of course there will always be opportunities, but I personally don't even bother pursuing anything in Ann Arbor (mainly) / Dexter / Saline / Chelsea / Brighton / Whitmore Lake / South Lyon . Prices are over-inflated and the competition is watching the market like hawks. I also see a lot of people / companies with a lot of money buying these over-priced properties for speculation. Since you mentioned wholesaling, I believe that the only feasible opportunities will come from off-market deals. I recently discussed the market situation with a few wholesalers and they told me there is not much going on. I am mainly focused in Wayne County now; no home-runs but a steady flow of inventory. Good luck with your move and settling in the area.
Of course there will always be opportunities, but I personally don't even bother pursuing anything in Ann Arbor (mainly) / Dexter / Saline / Chelsea / Brighton / Whitmore Lake / South Lyon . Prices are over-inflated and the competition is watching the market like hawks. I also see a lot of people / companies with a lot of money buying these over-priced properties for speculation. Since you mentioned wholesaling, I believe that the only feasible opportunities will come from off-market deals. I recently discussed the market situation with a few wholesalers and they told me there is not much going on. I am mainly focused in Wayne County now; no home-runs but a steady flow of inventory. Good luck with your move and settling in the area.
Of course there will always be opportunities, but I personally don't even bother pursuing anything in Ann Arbor (mainly) / Dexter / Saline / Chelsea / Brighton / Whitmore Lake / South Lyon . Prices are over-inflated and the competition is watching the market like hawks. I also see a lot of people / companies with a lot of money buying these over-priced properties for speculation. Since you mentioned wholesaling, I believe that the only feasible opportunities will come from off-market deals. I recently discussed the market situation with a few wholesalers and they told me there is not much going on. I am mainly focused in Wayne County now; no home-runs but a steady flow of inventory. Good luck with your move and settling in the area.
Couldn't agree more about AA. People (I wouldn't call them investors...even though they would) are buying the zipcode. Their recovery of cash (their cost) will most likely come to their grandkids.
I also agree about Wayne County. Better deals (actual deals) at better prices.
I disagree about the lack of "homeruns" though. The opportunities for HR's are pretty high, if you know how to buy...meaning how to structure the terms.
I live in Whitmore Lake and have 2 single families and a triplex there. Supply is almost zero right now on MLS. Anything fixer upper sells within a few days at more than what it's worth. I was able to scoop one up last fall that was profitable, but definitely had to pay more than I wanted and was multiple offers within a day of it hitting market. I haven't been able to find anyone to supply wholesale leads consistently.
If anyone wants to chat about investing in Whitmore Lake or surrounding towns, let’s talk! Open to working together.
I buy single or small multifamily fixer uppers with the intent to rehab and keep long term as rental.