Wholesaling Properties: Detroit’s Bankruptcy – Its Best PR Move Yet?

Wholesaling Properties: Detroit’s Bankruptcy – Its Best PR Move Yet?

Has Detroit’s bankruptcy actually been the best PR move of the real estate industry yet? If so how can others replicate this success for boosting their own efforts for wholesaling properties for big profits?

Bankruptcy has traditionally come with a bad reputation but as many have recently seen it can actually be a very positive thing. This isn’t to say it doesn’t have many negative consequences which can haunt individuals and brands for decades, and should never be considered without a lot of research, but it there is a positive side.

Recently we’ve seen thousands of Americans file for bankruptcy and emerge with a clean slate and stellar credit scores. Detroit’s giant automakers went through it and are doing even better today. Now Detroit itself is seeing some amazingly positive side effects of filing for bankruptcy.

Rather than scaring investors or buyers away the recent coverage of the city’s financial woes seem to be forcing more sales activity than ever.

For a start Canada is already moving in to buy the U.S. side of the international tunnel. Reports from real estate agents reveals Chinese buyers stampeding to buy 30, 70 and even several hundred homes at a time. Most don’t even want to see them, they are just saying “pick the best ones”. For global investors you can literally get a couple of homes in Detroit for the price of a really nice outfit.

Those wholesaling properties are experiencing one of the biggest booms ever and this isn’t even one of the top markets in the country for flipping houses according to RealtyTrac. Home builders are even planning $60 million plus new home communities in the city which will boost appeal and property values.

How good the Detroit housing rebound will really be, and how fast it will come will have to be seen, but for sure a lot of money being made by wholesaling properties right now.

This is not just about Detroit either. It’s about the power of PR, positioning, and can be applied anywhere from the hardest hit foreclosure markets to those already rebounding well.

Real estate investment companies and even solo investors wholesaling properties can put this to work themselves, or even by pooling together with local governments and tourism agencies to publish press releases, blogs and articles and spread the word via social media and more. Right now it’s easier than ever before with endless opportunities and reasons to use to increase attention.

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