Why Detroit and Cleveland are great markets for Real Estate Investing

Over a year ago I was getting ridiculed for saying Detroit, MI and Cleveland, OH were the next great real estate markets.  Everyone looked at me like I was absolutely crazy, and especially since I was basing some of my City Capital turnaround on two depressed markets.  I even debated on Fox News live with Neil Cavuto of why these markets were ones to watch. 

Funny how things come to pass!  Last month Money magazine came out with a list of the top 10 markets to invest in now, and what two markets were on that list?  Cleveland and Detroit!

As an investor you have to be able to spot trends when others can't see them, as well avoid at all costs the "Herd Mentality" of doing what everyone else is doing.  There is a reason most of the wealth is controlled by a few entities, obviously cause they don't do what everyone else does.  So why do we as investors do what everyone else does, despite racking up loss after loss.  With many of the people I have asked the question to many give reasons with no logic whatsoever.

I believe real estate is an investment and should be treated as such!  Find the opportunities where everyone else isn't looking, or scared to look then capitalize on it.  Right now in Detroit we have a waiting list for our units, as well in Cleveland.  These two markets you will see presenting opportunity after opportunity.  Now am I advocating blind investment by rushing in? Of course not, however there is money in pain!  When people are feeling pain money is being made.  When housing collaspes look at the worst markets for the easiest profits, and best buying opportunities.  It's a formula that has worked for years, and we see it being played out day after day. 

What stops you from moving on them? 

Are you a herder or part of the herd?  I don't know about you but I prefer doing the grilling of the steak, than being the one grilled myself!

See it, plan it, then act on it.  Otherwise its just a plan or dream that won't put any money in your pocket. 

PS:  The same strategy applies to other industries as well.  For instance fuel, oil, food, health care, and financial are all painful places for the American People. What investment opportunity, or business opportunity is within your grasp that you are avoiding  because the herd has moved on?  This may be the next big opportunity for you.  The grass may be greener possibly in other pastures, but if you take the time to water your own grass you can find opportunities way before the rest of the herd arrives!

For More Info

Buy Real Estate With No Money Down :: www.cashfreeinvesting.com
Make Your IRA / 401K Double It's Return :: www.IraCashFlow.com

Comments

[Kristen Farron]

Hi Ephren,

I saw you on Montel today and found your story inspirational on many levels. I am a city dweller in Detroit, and actually own a house in Hamtramck, which is a 2 unit. When I bought my house I had the same attitude as you, but now 2 years have past, crime is getting worse and worse, and my house has dipped 20+ grand in equity - I'm actually more in the hole now than when I bought it. The leadership in Michigan is shifty at best. Sometimes I feel like I live in a real-life Gotham city. With small business taxes on the rise, and more people being forced into the unemployment line, not to mention the 9 mils that the taxpayers owe the mayor because of his indiscretions, what information do you have that would make Detroit appear to be a sound investment? I am asking because I am originally from Flint - it has been 20 years and they are more poverty stricken than ever. I thought about moving to a major city and renting out my place, but the tenants that my neighborhood draws do not respect the property, so I'm very nervous to take that avenue. Are there any resources that you have than can help me turn my loss into profit?

I have always gone against the grain in my thinking, so I understand your POV - Detroit is rock bottom, buy now... but I don't feel confident that Michigan will ever rebound from this crisis. Any advice would be much appreciated.

[Napoleon Hill]

blah blah

[jake kennedy]

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[Ephren Taylor]

Thanks for the feedback guys

[Chris Flores]

When I read about that I think back to the story of Marshall Field. I learned about it through another book but the story is more or less the same.

After the Chicago fire in the late 1800's it was Marshall Field who decided NOT to abandon Chicago and rebuilt the store into one of the nation's largest department chains.

[Ben-Oni Jean-Pierre]

Yup!
You gotta be different and look for the thing no one looks for! Just because Detroit & Cleveland are considered bad place it doesn't mean everything is dead over there as a matter a fact business will boom over there as so will the real estate market!