Michigan Real Estate

Michigan foreclosures have pressed down real estate values in Metro Detroit for over 4 years in a row. The silver lining to these skidding values is that investors now recognize that prices for investment properties have never been more attractive.
So how come more investors are not buying these homes while the prices are low?
It’s very discouraging to move forward with plans to build a real estate empire only to discover that if you have 4 mortgages in your name or more, most lenders will not allow you to get another. When translated, this means that you can only have 3 additional mortgages on your credit report if you have one on your primary residence.
You would think that people would go out and get their four properties, maybe even have their spouse get another four too. Instead we see people deciding that if they can’t buy ten next month in their own name, they won’t get involved at all.
I know a lot of people that are buying Michigan Foreclosures and are using creative strategies to work around the 4-property and high-down payment obstacles. Here’s one that works well.
Roll your properties into commercial loans. If the properties were bought right with significant positive cashflow, then it shouldn’t be too difficult to package three rented homes together into one commercial loan. This frees up the funds that were used to acquire the property (either from a line of credit, straight cash, or other sources) so they can be re-invested in purchasing an additional three properties.
Commercial funding is a completely different animal when compared to traditional mortgages. They often come with 10 year amortizations and have to be refinanced every five years and because of that it’s usually best to select the right type of investment homes that have such a high cashflow rate that they can account for it.
This translates into buying very inexpensive properties. Houses that can be bought and fixed up for $30,000 or less and will rent for $750-$950 per month match up well to being rolled into commercial loans.
This is why smart real estate investors from across the nation are turning to Michigan foreclosures and properties in other areas that can be had for a bargain price. The financing is still there to keep buying more properties while prices are at record lows. Higher priced areas across the nation still have average values well over $175,000 even after year-over-year price drops and are not able to cashflow on a commercial amortization basis.
So if you want to buy a lot of properties at great prices that cashflow well in a short amount of time, then real estate investing in Michigan foreclosures is the way to go.
Michigan foreclosures offer a unequalled amount of equity and when price is compared against area rents it’s easy to see why smart investors from across the nation as well as Europe and Australia are buying houses here while prices are low.
Further more, with new methods to collect rent automatically each month and great property managements companies to take care of the occasional leaky faucet; investing from afar has never been easier.
Do some research and I’m sure you’ll agree that Michigan foreclosures may be just the type of alternative investment you are looking for. It might even be able to help you turn around the losses the stock market had dealt to your other investments and get on track where your finances and retirement goals are concerned.

One thing is for certain, the delay in the court system for processing New York foreclosure homes can help some parties involved considerably. The anxious and likely depressed seller of his family home and the nervous yet determined home buyer can both take advantage of the long timeline from Lis Pendens to the day of the auction sale. The process for inner city property foreclosures typically can last as long as 445 days or around 15 months, outside the city limits just a little less than 12 months. This is a general guideline only, every foreclosure is different, and this estimate assumes no delays, no contested action. Lenders non judicial foreclosures, a faster process, are seldom used in New York.

When no workout plan seems feasible to the lender, and the borrower is 90 days overdue with loan payments, the lender will request an attorney to initiate the foreclosure and demand that the borrower hand over the collateral backing the loan. A Lis Pendens is a public record and the starting gun as far as would be investors in pre foreclosure homes are concerned. Whether the buyer is experienced and acting on his own, or seeking to cover the best in opportunities to buy well through a real estate broker, now is the time he uses to communicate his interest, establish a level of trust with the home owner and gain enough information to determine the buying strategy.

Not all homes facing foreclosure will be attractive propositions. Not all home owners facing the loss of their property and lifestyle will be motivated to actively market their home for sale. Or discuss their circumstances freely. Faced with high inventories of unsold traditional housing all around, the owner, seeing a sale before the auction as a final chance to avoid foreclosure, needs time to sell, even at a discounted price.

Basic information to be evaluated once a buyer knows a particular property is in pre foreclosure must come from the search of title. Foreclosure actions can be brought by any mortgage holder, and until the potential buyer knows exactly how much is owed to all lien holders he cannot calculate the existing equity. Ranking of the liens plays its part in the buyer’s strategy, should it be apparent there is no equity, or the loans together are more than what the property would bring at the auction, the buyer can try to negotiate a discounted settlement with the junior lien holders, lowest ranked first, in order to create equity for himself. All this takes time. Here in New York, the home owner has a fighting chance to resolve most of his financial difficulties with a timely sale.

Are you in Direct Sales? Are you struggling with getting more dating’s and higher party sales? As a Direct Sales Consultant, it’s important to keep your dating and booking calendar full. Why? Keeping a full calendar means consistent income for you! It’s equally important to work closely with your home party hosts. You want your host to have a successful home party so that they achieve the goals that yield them the most free and half-priced items. The more successful the party, the more bookings you will get from it. If the party host feels completely satisfied, she will rebook another party from you. Try these tips to increase your party bookings.1. Offer an immediate dating gift to someone who books a home party with you and sets a date for the party within the next 21 days. 2. Half-Price selections are one of your most valuable tools. Let party guests know they can purchase these products at the half-off price by holding a party with you. 3. Reward hosts who have a “Dating in Waiting,” a party dated before you arrive. I like to offer a product that retails for $10-$15 as my extra incentive for outside bookings. 4. Re-Bookings. Offer an incentive to your host if she rebooks another party with you, to be held in 90 days. 5. Offer Exclusive Host Gifts. These are products that only party hosts can earn for free or 1/2 price for having a home party with you.Try these tips to increase your home party sales. 1. Attendance Specials. Provide an incentive for hosts who have 10 guests at their party. Provide an additional incentive for hosts who have 20 guests at their party. 2. Encourage party guests to bring an uninvited friend to the party. One way of doing this is by labeling the party invitation with the bring a friend to the party information. I personally reward guests with a 10% discount off their personal order for bringing along a friend. 3. Offer several Purchase with Purchase Specials, also known as Bonus Buys. example: With a $50 purchase, you can add-on xyz item to your order for only $10.00 or with a $100 purchase, you can add-on xyz item to your order for only $25.00 Enticing customers to buy more to receive a special offer is a great way to increase party sales. 4. Have plenty of items to demonstrate at your home parties. The more items guests see, the more they will buy. 5. Make your parties fun and interactive. Get your guests involved in the party. Play a few games, offer some great prizes and more importantly, make sure you enjoy yourself. By offering incentives like these, it helps to increase party attendance, which in turn increases your party sales. When you have satisfied hosts and guests, they will in turn, book parties from you!

The baby boomer generation is retiring and facing up to the fact that not only have they not saved enough, their living longer, getting less support from the state than ever and inflation is eating into their savings.

So what can be done to maintain standards of living?

Here we will look at an option that is well worth considering.

Investing for income and capital growth in Costa Rica or re locating to this beautiful country – 100,000 Americans have already done this and many more look set to follow.

Why?

Quite simply, it offers a quality of lifestyle at a cost that’s far lower than in the US, but is so close to the US it feels like moving states.

It’s just 2 hours away by direct flight and with a huge group of Americans already located here, all the shops, entertainment and recreation, you expect is available.

You can live comfortably for about $2,500 per month, so those social security checks go further.

As An Investment

Beach front property is up to 70% less than in the Southern US – Property is not only highly affordable but can produce big gains as an investment as well.

Many investors are shifting their savings before they retire into Costa Rica property so they can get big gains as well as sample the lifestyle to.

Growth rates that can be achieved can be seen in the following example:

Capital Growth Potential

A property purchased 15 years ago near the town of Jaco is now worth just under $800,000 today.

Not only is it a great investment you can live in it and rent it out for a valuable income.

It is a great investment before retirement and you could actually easily re locate and live in Costa Rica if you want to.

Think about it.

Just a 2 hour direct flight you could be in one of the most beautiful countries on earth – With Volcanoes, rain forest, pristine beaches and crystal blue ocean on your door step.

All this with all the comforts you expect at home and living costs that are far cheaper.

If you decide to buy then it’s easy as Costa Rica encourages foreign investment.

You get the same rights as residents and there are plenty of Realtors to help you buy the right property for you.

Many people are considering moving and investing to countries such as Costa Rica, as they offer the ability to build good solid capital gains into retirement, a holiday home and the option to move and relocate permanently.

Your golden years are important.

You have worked hard all your life and retirement should not mean worrying about the cost and making economies in your standard of living.

For this reason, many more Americans will move and invest in Costa Rica.

Many a home party consultants find it very difficult to realize a profit through their home party business.  As a direct sales home party marketing coach and consultant, these are the obstacles  I continue to hear  that many in direct selling continue to face: *I am not able to sell*My living room, garage and bedrooms have all turned into a product storage warehouse!*My spouse is threatening to cut me off financially if I don’t turn a profit ASAP!*My friends and family avoid me and are tired of my schemes!*My upline keeps calling asking me to take one for the team and double my product volume!*I am tired of buying leads, using the 3-foot rule and talking to dead beat leads!*My no-show rate is so high.  No one attends my home parties.*I have spent 1000′s of $$$ and in 5,6,7 months haven’t enrolled anyone!I can appreciate these frustrations; after all I was there once!All these complaints if you will are tied to the fear of selling and fear of rejection. Of course it is going to be very difficult to realize any home party sales and profits for that matter at this rate!Often during my discussions many people will be quick to tell me that they do not want to sell.  That response begs the question why did you get involved in a direct selling business?  When pushed further, many begin to realise what they are afriad of is coming across like the pushy car salesman.Much of this fear of selling comes of course from the dreaded objections that many people inevitably come up with as to why they simply will not, cannot or choose not to use your services.There are a number of things I would like to highlight:1.    The business you are involved in is direct sales or direct selling.  The avenue for the sales to be made is home parties.  In order to get the white mercedes, the pink cadillac, the big home and huge check, you must produce Volume both Personal Volume (PV) and Customer Volume (CV).  These come from making sales.  Your home party company will calculate your total monies due you through sales made and of course there are nice tidy bonus sums for those that meet and exceed direct sales company exepectations!  You my dear friend are in the business of selling.  Should you find you do not like what you do.  It could very well be you are involved in the wrong industry.

2.    As Jeffery Combs says, no one really objects to what you are selling, what they are telling you is they are incapable of making a decision.  Remember that most people are used to being told what to do when to do it and how to do it.

3.    There really is no such thing as an objection.  An objection is much like the child that is constantly acting out.  Are they really acting out or are they asking for attention?  An objection is merely a crafty way of saying “please give me more information!”

4.    When you get an objection, it means you are that much closer to makinng the sale.  When you receive no objects you can be certain you did not reach your intended target.

5.    As my friend Amanda says in her book Go For No “ A no doesn’t always mean “no”.  It just means not now!

6.    You can’t “overcome” your prospect’s objections – but you can give them information and tools that allow them to make a new decision.

7.    The biggest mistake I find many home business owners making is not asking for the sale.  What is the point of a well attend in home party if after a magnificent home party demo you don’t ask for the sale? Truer words have never been spoken.  Ask and it shall be given unto you!When one is engaged in the task of building a brick wall, when you notice a crack in the wall do you continue to build and then when you are done tear down the wall and start afresh?  Or do you correct the mistake immediately and then proceed?  Which option is cost effective and will bring better returns?

Discover how you can get the odds in your favor, pick up your copy of Home Party Plans QUALIFICATIONS Process : How To Guarantee You Are Not Wasting Your Time With Dead Beat Prospects!Party Plan Pat