So, after halting things for a little over a year Wayne county has began the tax foreclosure auctions once again. let me start by saying, in no way do I like the fact that properties in auction are there due to the misfortune of others. These homes were lost by their owners and are being auctioned off to the highest bidder because the owner could not pay their taxes. I would also like to say, I love Detroit and hate to see our beautiful old homes demolished and blighted. Any opportunity to save an old house, I wholeheartedly believe it should be taken. With that being said I only bit on what I can responsibly manage.
Since I was a kid, I’ve known about the tax auction. Take this excerpt from my Tax auction ebook “FixSomethingDetroit Wayne county Tax Auction Guide”
“When I was in elementary school in the mid- ’80s my parents were buying houses through the tax foreclosure auction and flipping them. Our primary house was our first purchase.Because of my MOM, I knew this was my path to home ownership before I even made it out of elementary school.
Since then I purchase several properties this way. To me it was a no-brainer… like my dedication to only buying clearance items in store… all that other shit was invisible to me.Back then my Mom and Dad would camp out for days at (then) COBO Hall in Downtown Detroit among hundreds of others to bid on houses.It was a first-come basis back then.It’s all online now but those memories were etched in my mind. Not really understanding this was my first life lesson on wealth building.”
“FixSomethingDetroit Wayne county Tax Auction Guide”
This year I created a guide to help others successfully navigate the bidding process. I also include:
- Strategy on how to search the list for the best properties
- My list of the most profitable areas
- Maps of these areas
- A full list of properties up for auction with Zip code filter for ease of searching
- Tips on building a scope of worksite unseen
- Details on avoiding pitfalls… The known unknowns
- Estimating a good budget before you bid
- Budget Calculator excel forms
- Proforma examples
- and much more.
Check out my guide if you are interested in Investing in Detroit like me. Click here
