September 14, 2012 · 9:00 AM
The 2012 Wayne County (City of Detroit, MI) tax foreclosure sale is the largest ever! They are auctioning over 22 000 properties beginning this Friday.
Michigan is a tax deed state, where the counties foreclose on and sell properties at auction when an owner becomes delinquent on property taxes.
In Wayne County (City of Detroit), properties are sold after three years of unpaid taxes. This year's properties include the 2009, 2010, and 2011 tax years, the years after the recession started, resulting in a large number of available properties.
I am registered and will be bidding on select properties. Starting bids are amazingly low. I am looking for investors interested in purchasing properties with me at the auction. I have reviewed the 22 000 plus properties for the best quality rental properties with the greatest potential for future appreciation.
Here are a couple examples of properties I will be bidding on:
- -6 unit building
- -sold for $190 000 in 2007
- -all 2 BD and 3 BD apartments
- -strong university rental area
- -safe neighbourhood
- -units rent for $625/month each
STARTING BID: $11 000
-3 BD 2 Bath House
- -less than 15 years old
- -strategic location for future development
- -similar house on block sold for
- $145 000 in 2007
- -good rental location
STARTING BID: $17 000
The housing market in Detroit started to turn positive this past spring. Median prices are up 9.1% in Wayne County and 12.2% in Metro Detroit in the last year.
If you are interested in taking advantage of this unique opportunity, please contact me immediately to discuss the type of property that interests you and your maximum bid amount. For a very reasonable assignment fee, I will bid on the property, research and view it personally, check title for liens and other debts, supervise any needed repairs, and find a local property manager to effectively manage it for you.
This email is going out to about 1500 investors, so please contact me right away to reserve the best properties. Please contact me before this Thursday afternoon, September 13 to allow sufficient time to begin research and prepare funds for the auction.
To read more concerning my method of choosing wholesale properties, click here: How I Choose Properties