Welcome to another update from Urban Detroit Wholesalers!

We are very excited for 2008 as it has already been a banner year. Make sure you sign-up for our weekly newsletter of wholesale deals using the name and address form to your right.

UDW has been doing well lately with getting buyers spectacular deals in the City of Detroit. We’re finding that the deals we’re getting are even better than last year, which provides great buy and hold opportunities for our investors. Note: many times a property sells so quickly on our Detroit Cash Flow website that we don’t have time to add it to the web site. If you’re not seeing what you want on the site, make sure that you send us an e-mail with your requirements so we can get you what you need.

Last night I was at a real estate investor meeting, Renegade Detroit Investors, and you could truly see the optimism and excited talk in both of the presenters and in the audience. While there are truly deals all over Michigan right now, where did our speakers including Bob Matler see the most opportunity? That’s right, the City of Detroit.

I believe that Detroit when our real estate market rebounds that you will see the greatest gains made in the City. When you’re buying houses in great areas with 3 beds, brick, a basement, and a garage for far less than what you can build it for, how can you not? Anyway, Bob Matler sees a lot of opportunity on the commercial side in areas like downtown and mid-town Detroit. Mid-Town (near Wayne State and the Detroit Medical Center) has enormous amounts of rehab and new construction including a new school for the arts. More young adults coming to the area? Always good.

For single family homes we see great opportunities on the Westside of Detroit in area codes like 48227, 48228, 48235, 48221, in mid-town 48201, and in select areas on the Eastside like 48224 and 48213. The Eastside of Detroit is a little trickier but there are definitely great deals over there!

Real Estate In the News
Well, speaking of downtown Detroit for commercial investing and all the great areas to buy single family homes, I thought I would share a great article:

Rock Financial (Quicken Loans) Moving to Downtown Detroit

When you talk about a revival of Detroit, it’s being lead by Downtown. Already a vibrant area with ball parks, excellent restaurants, and a great night life, having 4,000 young professionals working everyday in Downtown Detroit will definitely add to it’s growth. Young people usually lead the trend in moving to revitalizing downtown areas and Detroit is no different. With that many people working downtown today, there should be a good upswing in the number of employees actually living downtown.

Motivation
This quote comes from a very old and wise sage: “Do or Do not. There is no try.”~Yoda. Now you may think I’m a nerd for quoting Yoda, and that may be, but this is a great quote. It all comes down to our language and how we program our brain to succeed or fail by the language we use. Too many people “try” to do something or “want” to do something. Not enough people just actually go out and do it. Stay away from the definitive statements like “I can’t do that”or “They’ll never accept my offer.”. Replace them with sentences like “I’m will do that” or “They will accept my offer.”. It will give you confidence and it will make others feel confident in you.

Education
I have read a book that has really changed my outlook on running my business. The book is called “The 4 Hour Work Week” by Tim Ferriss (http://www.fourhourworkweek.com/). He takes the concept of concentrating your time on the most important tasks that I learned in Eat That Frog by Brian Tracy to the next level. There is a focus on outsourcing and just simply eliminating most of your work week. When we really look at what we do each day, there is quite a bit of “filler” work that we do just because we’re “working”.

I bet if you really look at the tasks you do each day, you could eliminate 75% of your work by just not doing it anymore or having someone else do it for you (outsourcing). One of the easiest ways to think about this is by thinking the way Tim puts it: Pretend that you had a heart attack and your doctor told you that you could only work 2 hours a day or you would die. What would you do? I’m willing to be that sorting through e-mails, reading useless news or wasting time with long drawn out phone calls wouldn’t be on that list.

Make sure you keep an eye on our Detroit Foreclosure Properties website. Utilizing some of the outsourcing methods talked about in the 4 Hour Work Week, we are having an Indian company revamp our web site to really add cutting edge features!

Have a great week and contact us with any property requests, properties for sale, bulk lists for sale or any questions about the Detroit market.

Successfully yours,
Jared Pomranky
Urban Detroit Wholesalers, LLC
www.WholesaleMi.com
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