Investing Cash In Discounted Foreclosures
Northern Michigan is poised to make investors a great return on the money they are willing to invest in foreclosed, bank owned, tax reverted and auctioned properties.
RealtyTrac a web based information service shows Roscommon County during the month of January, with estimated foreclosed properties selling for up to 53% less than other non-foreclosed properties. The coming weeks will have the potential for the perfect storm for real estate investing in the Higgins Lake, Roscommon and northern Michigan areas.
With foreclosure filings leveling off in some northern Michigan areas such as the Roscommon area, and mortgage interest rates the lowest in years, and the Federal Governments potential of offering help to first time home buyers, this is a win-win for investors and home buyers! As an investor, your cash has the potential to realize good appreciation on the purchase and then selling on lease/purchase options to buyers with the potential to have the first time home buyers cash in on the Federal Governments Stimulus money to pay for the down payment. With Bank CD rates at the LOWEST rates in decades, this may be the time to park your cash in tangible assets such as real estate. There are a number of foreclosed properties on the MLS that fit investment grade for a good ROI “return on investment.” Ken Carlson Realty has the data you need to make informed decisions on your property investing.
Disclaimer: The user of this information should independently verify the claims of RealtyTrac.
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