Two brothers made roughly $4.5 million in the city of Detroit from 2008 to 2010. That is worth repeating. They managed millions of dollars in perhaps the most exhausted and lambasted city in the toughest half decade in about a century. Is it too easy to say they did it because they used secret strategies and a laser-focus towards multi-millionaire status?
They did it by innovating. They could have easily rolled over. Detroit was facing serious bankruptcy during this time, and that has held on even to this day. Detroit is a financial disaster, and even the citizens of the city would likely admit this. Few expect to make any money in Detroit. Yet, these two brothers defeated the stigma and prospered as if they lived in downtown Miami when the population was half the size it is now. The principles they used to succeed are outlined and explored on the Dean Graziosi website
The brothers achieved their success by working within their environment. Detroit is a lemon. Regardless, they made lemonade. The brothers bought
out some of the most beat up pre-foreclosures in the market. The bank was giving them away (almost) to help pad against the incoming tidal wave they expected to see over the next 72 months. The brothers worked with a team of contractors, and got the properties livable. They then charged very low rental rates to get people in the properties. The rent roll was minimal. It had to be. No one could find work in Detroit, and that status stands today.
The brothers focused solely on quantity over quality. They then did something very unexpected, and this is where the innovative part comes in. They began setting up payment plans and personal loans with the tenants. What started as a direct “rental” situation, turned into a “rent to own” scenario. The tenants were willing to take care of the properties, and they began incentivized by home ownership in an arena where this was also considered impossible. The Dean Graziosi website
covers exciting stories just like this. Profit is everywhere. When getting a bowlful of lemons, try to make lemonade.