Welcome to the #1 source for cheap investment properties in Detroit. You can learn more about these properties, our service, and the local real estate market below.
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Ever wish you could skip the whole being a newbie real estate investor thing?
Not to worry... We'll be addressing exactly how to utilize your MyHouseDeals membership to find deals in our MyHouseDeals Guided Tour!
No boring slideshow, just the exact steps to maximize your MyHouseDeals membership and find deals. These are tried and true strategies that MyHouseDeals investors have used to build their investment property portfolio.
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This site provides you with the list of "big equity" properties that savvy investors DO NOT want you to know about. They don't want the competition. It's a list that will enable you to reap huge profits, just like they are, from today's chaos.
This isn't your traditional list of over-shopped and over-priced MLS listings, foreclosures, HUD homes, and REO properties. At most, those types of properties are discounted by 10% to 15%. Realtors may call that a deal. We call that "trash."
The properties on this site are under-shopped and, as a result, under-priced. They are "under the radar" so to speak. A majority of them are not listed anywhere else.
Most investors are unaware of this insider's list. And for you, that's a good thing. Less competition means bigger - often absurd - profits.
But most importantly, the properties on this site have big equity and bigger profit potential. Dozens of them are marked down by 30% to 40%. And dozens more have at least $20,000 in equity.
We provide you with three specialized types of properties:
These properties are for sale by other real estate investors. To clarify, the word "wholesale" doesn't mean "bulk." You buy each property individually. You just get a "wholesale" price. The investors who sell these properties want to pocket some quick and easy cash by selling you a fixer upper "as is."
You make bigger cash by buying, fixing, and reselling. Or you can buy, fix, and rent. It's up to you. If the deal is right, you should come out on top either way. We compile this list by calling and emailing just about every real estate investor in town, asking them what they have for sale ... at a big discount, of course.
These properties are for sale by regular homeowners who are in a bad situation. You have more options when you buy motivated seller properties. You can work a short sale, take over their payments, wholesale it, rehab it, lease it, buy or sell on owner financing, or whatever else you can dream up.
Most of them are desperate to sell... and desperate to sell at a price that's way below market. You win by setting yourself up for a big payday. The sellers win by getting rid of a property that's been a thorn in their side. On this site, it's all about win/win, not taking advantage of others.
We get these leads by spending thousands of dollars per month in online ads that say "We Buy Houses." These motivated sellers fill out a simple form about their property. And if you're a registered user, we take that information and give it directly to you.
Investor-ready foreclosures are not your typical foreclosures. The competitiveness at foreclosure auctions makes typical foreclosures too expensive to buy the properties at a significant discount. The investor-ready foreclosures on our website are properties that weren’t purchased at foreclosure auction, and are now bank-owned, similar to REOs.
MyHouseDeals helps you avoid the auctions and competition by compiling a list of all these properties and filtering out the ones that do not have room for profit, so you only see the good deals that are for sale at a significant discount. That’s what makes them investor-ready.
In the last two months, over 441 Houston-area deals have been posted to this site. Combined, these properties have had over $31,734,342 in equity.
Say goodbye to overpriced MLS listings and traditional bank foreclosures. And say hello to big-equity wholesale deals, motivated seller leads, and investor-ready foreclosures!
Don't see a property that's in your area or meets your criteria? Don't worry. Based on the average of the last 2 months, you can expect to receive info on 449 additional Houston area Wholesale Deals and Motivated Seller Leads over the next 30 days.
Are you emailing sellers, but they're not emailing you back? If so, pick up the phone and call them. Many of these sellers are too busy to check their email, but they do have time to tell you about the property over the phone.
FACT: Some sellers are truthful about the After Repaired Values. Some sellers exaggerate. It's best that you ignore the sellers' repair and ARV estimates and draw your own conclusions. And then make them an offer based on YOUR numbers, even if your offer is $10,000 less than their asking price. That's what the successful members of myHouseDeals.com are doing. They don't give up on these deals just because one or more sellers exaggerate their numbers. They make offers.
Think some of these sellers want too much money? If so, you're right. But what they want and what they get are two different things. Make enough offers, even if they're well below the sellers' asking price, and you'll get some accepted.
Ignore the bad deals. All you need is one good deal to land a big payday.
We do not filter or mark-up the deals on this list. If a seller wants to post a deal that meets the specified criteria, we let them post it.
We do not verify the After Repaired Value or Estimated Cost of Repairs for any of the houses. Those numbers are provided by the sellers who post the deals. So please do your own due diligence.
We enter the Equity / Spread estimate ourselves. It is calculated as follows: After Repaired Value - Asking Price - Cost of Repairs. You can use that figure to quickly find the deals that interest you. It is not meant to be an estimate or guarantee of your profits if you buy the property.
