Anybody bought with Urban Detroit Wholesalers?

[Michael Seutin]

Sorry I didn't know where to post this questions, but since that company UDW (Urban Detroit Wholesalers) caters to investors that want to rehab and rent or flip, I am asking for reviews.
Any good or bad experiences with that company. I know Detroit is dangerous but they claim they invest in good neighborhoods and that opportunities are there.

[Eric M.]

Originally posted by Jeremy Burgess:

Hi Michael,

Detroit is a great place to invest if you are interested in great cash flow, long term appreciation (7-12 years), you buy in the right area, and you have a great team working with you on the ground.

Jeremy,
I am just curious if you could state your case for long term appreciation in Detroit. (as unbiased as possible)
Is this just the idea that Real Estate tends to go up over time? Or some other solid reason?
In Detroit in particular, I think many of the "normal" rules do not apply.
Please make a fact-based case for how the city of Detroit proper is going to be in a better position in 10 years than it is now. It is a shrinking and rapidly deteriorating situation right now in terms of economy, infrastructure, city services, schools, etc.

To me, this is alot like when a formerly good stock takes a nose dive over a period of a few years. When a stock that was $50 for a long time gets to $20 it seems cheap, when it gets to $10 it seems cheap, when it gets to $5 it seems cheap, when it gets to $3 it seems really cheap and you look back at the $50 and say, boy this thing could really be great if it went back up.
However, the reality is that it is much more likely that the company is doomed and injured beyond recovery and the stock eventually goes to 0. Along the way, there were opportunities for short term stock traders to make profits buying and selling, but all buy and holders get anihillated.

When I first got started in RE (in Detroit BTW), in the back of mind, I am thinking it is a solid investment because (unlike a stock) RE can't go to $0.
However, in this new world, Detroit has proven that real estate can go to $0.

Just curious your thoughts. I personally find Detroit a fascinating case study.