I’m watching some family members of mine lay the groundwork for some significant long-term wealth creation through the purchase of distressed properties here in Michigan.
I took a tour with my Uncle over the holiday of several of the properties he had purchased, and several that he was considering for purchase. My uncle is taking advantage of the fact that we are currently experiencing the biggest real estate slump in Michigan since the Great Depression. While others are afraid and are dumping real estate…my uncle is scouting SE Michigan for those “diamond in the rough” great deals that are available to the patient investor.
There are AMAZING DEALS out there right now in MI and elsewhere. But it takes extreme discipline and calculated risk to take advantage of current market conditions. I applaud Uncle B for his hard work and smart strategy in building his property portfolio. I believe that his actions today are going to create significant appreciation and wealth for his family over the next couple of decades!