Michigan Lakefront Property

Ok, it's 3:50am here in bitter cold Michigan, and once again I'm at my desk. The last time I had a case of insomnia I surveyed the mls for new listings and found the best opportunity I've seen in several years! Immediately, I sent out an alert about the property to all 2400+ of you. We received many calls, emails, and of course an offer. Unfortunately, too late; D@mit! (I'm sorry PD, I'll make it up to you). This could easily turn into a very long rant about unscrupulous, unethical, criminal real estate brokers... but I digress. (note to self, "call the attorney general's office").

Anyway, tonight , er, this morning, I was going through my notes and came across the section where I keep a list of inquiries for rental property. No, not for vacation rentals, for affordable 12 month lease single family homes. 3 bedroom, 1.5 bath, 1100 sq ft, etc... These calls are coming in from employees of the Four Winds Casino. I'm not sure about their total number of employees, but whatever the number, they have significantly increased the demand for rentals. This is a not so subtle hint for you developers. Call me. I've got my eye on a few parcels with reasonable acquisition cost and the zoning and infrastructure for affordable condos / apartments. That prompted me to setup a search in a price range I normally don't bother looking at. I was shocked to see what is now available in the sub 250k price range! There are a few new homes and bank foreclosures www.lakerealtors.com/mls/2801058 ).

Listed at only 249k is a brand new 3BR cottage at Walden Woods! Now, I always wondered about the timing and location of that project, but 249k! Many others are good, solid, livable homes. But, more importantly, many are very well suited as income producing rental property. Rents for a typical 1960s 3BR ranch, in the New Buffalo area, are approaching 12k per year. Considering current interest rates, even at 9k per year, it might make allot of sense for some of you. I think there may be some good investment opportunities here (or it's sleep deprivation). Use the link below to see a sample of what's out there and let me know if you need more info. Good night, er, morning, Paul

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