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Crazy Sh*t In Real Estate with Leigh Brown

Crazy Sh*t in Real Estate!—a podcast that will shatter the HGTV-induced veneer of real estate, and celebrate the challenges of working in this wild, wacky business.
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Crazy Sh*t In Real Estate with Leigh Brown
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Sep 23, 2016

Summary:

Meet Kamal Cheeks, the man who’s reinvigorating the metro Detroit real estate market one property at a time. Listen as Kamal takes us through dark days of Detroit real estate, when properties were selling for as little as ONE DOLLAR, to the brightening horizon of today’s market.

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone. Never miss a beat from Leigh by visiting The Leigh Brown Experience.

Time Stamped Show Notes:

00:30 – Today’s guest is one of the leading realtors from Detroit…please welcome Kamal Cheeks to the show
00:44 – Also the current president of the Detroit Association of Realtors
00:55 – Focused on preserving property rights in the Detroit area
01:05 – Detroit has been through some craziness unlike anywhere else in the nation
01:20 – Currently in the recovery stage, but struggling still
01:45 – Defining how Detroit is struggling
02:05 – The majority of properties are WAY less than you’d see across America
02:25 – Brick, 3 BR houses are selling for $500 to $1000 in property auctions
03:00 – How a foreclosure auction works
03:10 – Many of these bids are sight unseen—it requires a lot of caution
03:37 – Hire a realtor to do the due diligence
04:05 – In one block you can go from a nice neighborhood to what amounts to a demilitarized zone
05:00 – What due diligence looks like in Detroit
05:20 – Always serve a realtor who knows Detroit, specifically metro Detroit
07:35 – When shopping for property in Detroit, find a realtor that is plugged-in politically as well
08:30 – Right now there is a ton of money being invested in Detroit because the market has been so depressed
09:49 – Talking about the “Dark Times” of Detroit
10:08 – Tax foreclosure homes were selling for (literally) $1
10:35 – The Detroit Association of Realtors partnered with the Wayne County Treasurers Office to help get these homes sold
11:55 – Whatever doesn’t sell in the September auction goes to the October auction
13:00 – Get in touch with Kamal via Facebook, or Google the Detroit Association of Realtors, or call him at 586-298-1229

3 Key Points

  • Don’t quit on Detroit!
  • 3 and 4 BR brick homes are STILL selling for as little as $500 to $1000.
  • If you’re going to shop around Detroit, you NEED to partner with a realtor who’s familiar with the metro area. This is a MUST.

Credits

  • Audio Production by Chris Mottram
  • Show Notes provided by Mallard Creatives
  • Cover Design by Two Minds Design
  • Original Music by Rimsky Music
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