Top 10 Market for Foreclosures Is #1 For Savvy Real Estate Investors

California, Florida, Washington and Texas real estate investors are flocking to snap up foreclosed properties in Detroit selling for pennies on the dollar, abandoned by the sub-prime mortgage bust. With the number of Michigan foreclosures skyrocketing a whopping 140% between May 2006 and May 2007, smart investors in other real estate markets are realizing great profits and huge returns on their investment by investing in the Michigan foreclosure and REO (bank-owned) market.

Real estate guru, Mr. Lease Option, Mark Maupin says, “There are so many good investments on the market right now that your average investor can quickly build a million dollar portfolio by purchasing property right now at an all time low.”

The Standard & Poors' Case-Shiller Home Price Index reported in late June that home prices dropped more in the first quarter of this year than in any other quarter in the last 17 years.

This may lead investors to believe that now is not the time to invest in real estate, however, when looking at the Michigan market, Mark Milner, chief risk officer at PMI Mortgage Insurance says, “Detroit hasn't had much volatility, just steadily falling prices and a huge backlog of properties for sale. There's less risk there because prices already have fallen a good deal, says. "Simply put, prices can't fall forever."

Investors already aware and understanding this trend due to industry insiders like the group that runs a Metro Detroit investment property website, CrescentHomeBuyers.com, have already begun quickly buying and rehabbing property to hold for long-term appreciation and cash flow.

Also, many investors have received coaching from real estate gurus like Donald Trump and Robert G. Allen, author of “Nothing Down for the 2000’s”, to actively invest in areas like Detroit and the surrounding suburbs for the maximum return on investment.

Letitia Patterson, licensed Keller Williams realtor and owner of CrescentHomeBuyers.com says, “The opportunity for a real estate investor to buy low, fix up and hold for rent or sale is incredible. However, the buy, fix and flip theory can’t work when you’re paying an average of $200,000 for an investment property.”

“In Michigan, you can purchase a property for 20-30% of the value, rehab it, and rent it out or sell to a homeowner in about a year. That is an incredible strategy for realizing tons of profit or great passive income and long-term appreciation!”

For a list of properties and excellent investor resources, investors can go to www.detroitcashdeals.com or www.crescenthomebuyers.com.

For a private buyer consultation, investors can call toll free: (866) 887-0978, reach Crescent Home Buyers by cell at (248) 506-9426 or via email at detroitcashdeals@yahoo.com.