Michigan Economy - Housing Market...

[Brian Stein]

So I'm new to the game, and I'm from Michigan considering making my first investment of a foreclosed home to rehab.

Looking at the free foreclosure database it seems like there is just a ridiculous amount of homes that are foreclosed in Michigan right now. About 7,200 which is far more than any other state, even though there are many states with larger populations.

It really seems like with so many houses being foreclosed, I worry about being able to sell my rehabbed home... just seems like so much competition with so few people actually looking to buy.

I'm curious as to what some of you real estate veterans feel about this.