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CASH IS KING!!! - Unlimited Foreclosure Opportunities in Michigan!

By Jason Tucker

Commercial Real Estate Agent

December 17, 2008 01:29 AM

This may be a slightly different approach, but it makes sense.

There are so many unbelievable opportunities in the Detroit metro, commercial real estate market, it is simply staggering. The problem is, no one, has any money.

Here's what I'm looking for:

Out-of-state commercial property buyers
Companies looking to expand facilities
Investors looking for opportunities at pennies on the dollar
Financial institutes looking for solid assets

For the time being, the opportunity areas far out weigh the many areas of the Detroit market that are on an upswing. I'm not sure how long these favorable circumstances will last, so I recommend that you seek out local Detroit representation, and quickly.

Please forward any requests for information to:

Jason Tucker | Associate Director

Newmark Knight Frank, Inc.
34975 W. Twelve Mile Road | Farmington Hills, MI 48331
Phone: 248-848-4084 | Fax: 248-848-9041 | Cell: 248-431-8138
e-mail: jtucker@newmarkkf.com | Website: www.newmarkkf.com

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Loan Survivor Real Estate Financing Expert

Purchases, First Time Buyers, Pre-Approvals, Refinance - Birmingham, MI

How about some out of state investors looking for a 15% rate of return?

Then could buy properties in the coming commercial foreclosure tsunami:)

Dec 27, 2008 09:11 AM

Claude Beauregard

Kiano Realty Investments, LLC - Canton Township, MI

Comcercial properties and apartment would offer a greater rate of return providing they are cash flowing properly. Have prices on apartment properties started to decline in the Metro Detroit and suburban areas yet?

Mar 10, 2009 06:21 AM

Jason Tucker

Richmond, VA

Everything's declining, including high performing investment properties. Sale prices, and even offers, are largely based on appraisal values and appraisal values are based on sold comparables amongst other things. One interesting thing is that many appraisers will not use foreclosures in their analysis, so the "righting" in the market is having a direct affect on all property values.

In reviewing an investment property there are many things to take into consideration, however, one often-used tool is a capitalization rate calculation/cap-rate.

The cap-rate may vary in different areas of the country for many reasons such as location, schools, level of crime and general condition of an area. Acceptable cap-rates for investors in the Michigan area typically range from a minimum of 7 and anything above 10 is considered exceptional. See my blog about cap-rates.

Mar 12, 2009 04:28 AM

CASH IS KING!!! - Unlimited Foreclosure Opportunities in Michigan!

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