Wholesaling Houses During The Dog Days Of Summer
This year investors wholesaling houses in Detroit face more threats than usually during these dog days of summer…
Some might consider it a “dog eat dog world” out there every day in the real estate investing industry, but distressed Detroit takes the saying to a whole new level.
This new issue has nothing to do with the competition between investors or real estate agents, and not even the Motor City’s reputation for gun and gang violence.
According to a new Bloomberg report as many as 50,000 stray dogs roam the streets of Detroit today. Many run in packs, and many are some of the most dangerous breeds of fighting pit bulls. Not exactly the type of harassment you want disturbing your sales pitch to a new prospective home buyer.
Many of these packs of stray dogs have not only been found running the streets and chasing down postal workers (which has resulted in mail being stopped), but in foreclosure homes as well.
Wild street dogs may not be a problem in many other central and South American countries where they are mostly docile. Here on the other hand they pose many challenges to those wholesaling houses.
The issues are clearly even more pronounced for buy and hold investors, but even wholesaling CEOs have their work cut out for them. Wild and aggressive dogs can mean physical personal danger when viewing or showing homes, can be a threat to renters and their families as well as real estate agents. Rent collection can clearly be a nightmare, and even if it is outsourced there are definitely concerns about keeping these and other workers protected, or at least not being sued when they are attacked.
Of course these issues can be found in other severely distressed neighborhoods around the country, and a few snapping puppies may not be reason to snub the huge profits to be made wholesaling houses in Detroit.
Still there are some essential considerations to be made when flipping homes in areas like this. The first is security measures. This means ensuring your own safety when out in the field, and installing sufficient security measures to protect residences and any prospects and contractors visiting the property, as well as occupants.
Fences are probably a good minimum requirement, as well as securing the properties themselves. Some have resorted to carrying pepper spray, though bear mace might be more appropriate. Still, make sure you are on the right side of the law, no matter if your life is in danger or not.
Insurance is a must, as every scenario cannot be 100% defended against. However, the most caring and forward thinking wholesaling CEOs will probably also want to help solve the issue.
So support shelters, donate property to set one up, employ help and deploy other methods to help improve communities and lift value of properties.
Click the Join Now Button Below to Get Your 30 Day Risk Free Trial of Flip2Freedom Academy