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Detroit needs longer term real estate investors.
I have buyers calling me from all across the country because of the housing prices here in the Detroit area.  At some point, and it's probably going to take a couple of years, prices will be back and all of these real estate investors who took a chance on Detroit are going to cash in.  Okay, maybe not like the boom years but until then their properties will cash flow nicely and when the prices increase, and it will be slowly, they can sell for a profit. 
The big problem Detroit is facing right now is the deflated prices due to the quick flip investors who put a couple thousand into a house to clean it up and sell wholesale for a fast profit.  That's keeping the values down and crushing values.  I can't blame anyone for making a buck in this economy but we need more investors who can take a longer term investment by carrying back a note here and there, selling on a land contract and asking a little higher price, something that will help the sale prices go up.  
We all know it's going to take longer to get the prices to increase, that's a tall steep hill to climb.  Buying and ... more

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