There are tons of great deals in Michigan, but naturally..there are a lot of not so great deals as well. You have to know what to look for, having an eye for these things is the difference between a quick flip..and sitting on a lemon for month in, month out. Some of those red lights are a little harder to see than others, but some practically jump off the page [or at least they should]
One of the definite "stay-aways" are Condos. Just 2 days ago I got a lead right in the midst of my target market, I put in the call and found out that it was a condo..and I had to let it go. It's a proven fact that Condos are the last thing to rise in a boom and the first thing to drop in a slump. An associate of mine had to find out the hard way. He's a big player in the game and he has no problem selling houses, but when it comes down to the condo that he thought he'd take a chance on I can't exactly say that he's having the same success. I think it's been about 8 months now, I'm rooting for him to make a sell on it soon!
There are enough good deals in Michigan to not have to screw around with condos, let em' go.
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