Wednesday, 31 July 2013

Michigan REIA Announces a Special Event “The Art of Structuring a Stabilized Value Transaction"

Engineering Detroit's comeback presented by keynote speaker Herb Strather

 



 Detroit, MI -- The great recession hit Detroit harder than perhaps any other major American city. When Detroit's major employers took a hit, the city lost the middle class population and the real estate market went into a free fall. Detroit's neighborhood real estate values is now sitting at 10-30% of it previous value. Now that the economy is getting better and jobs are returning; how do Detroit and other cities get property values back up?

This is a catch 22 question. It's like squatting to leap and getting cooked in the squat. Appraisers rely on comparable but banks are still dumping properties at 10-30 cents on the dollar and buyer and seller cannot close deals that they have agreed upon because of the value issues There are very few good comps that appraiser can rely on. The issue now is how do cities bounce back? How can buyers and sellers get good comps and property values stabilized again?

For starters, most comparables in the "D" and many other cities are less than $30,000 which is the minimum loan amount for FHA and most conventional sources, therefore a buyer could have trouble getting a mortgage because chances are they will not get a good appraisal to support the mortgage; furthermore banks do not want to make mortgages anyway because they have to put up cash reserves for each mortgage.

Smart sellers and buyers can get together and both share the upside. Herb Strather, successful real estate investor in the Metro Detroit Area will be offering a special presentation to show participants how to structure a stabilized value deal and put the equity in their pocket tax free!

The National Real Estate Investors Network meets the third Thursday of each month. There are no membership requirements, no license required and all meetings are free to attend and open to the general public. Everyone is welcome and there is no need to pre-register; simply show up, sign in at the welcome table and enjoy an information packed evening with a room full of like-minded individuals looking to succeed in today's challenging world of real estate investing.

Mark Maupin, founder of The National Real Estate Investors Network, aka Michigan's Best REIA, said "Herb Strather is one of my group's favorite real estate speakers. When he puts on a presentation, everyone says they leave the event with valuable information that is most helpful in their real estate investing careers. If you have never been to an event before, this is the one you must attend!"

The meeting will be held on Thursday, August 15, 2013, at the Wayne County Community College, Eastern Campus, in the Cooper Room at 5901 Conner St; Detroit, MI 48213. Visit http://www.MegaEveningEvent.com to learn more.

Contact:

Mark Maupin
248-939-6232
Maupin.mark@gmail.com


This press release was submitted by Right Now Marketing Group, LLC



Company: National Real Estate Network, LLC
Contact: Mark Maupin
Phone: 248-939-6232


Upcoming Events: http://www.MegaEveningEvent.com  or http://www.meetup.com/MegaEveningEvent-com  





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