Real Estate Professional in West Bloomfield is not the Average House Flipper

Dec. 18, 2009 - PRLog -- West Bloomfield, MI – Real estate professionals and house flippers; what is the difference?  Alan Faitel, a real estate investor with over 23 years active experience in the Oakland County real estate market, answered this question during a recent interview.  “House flipping is not a crime; however, laws are commonly broken by investors who are working these deals.  There are many factors involved, but a true real estate professional works with a high level of integrity and follows all the rules.”

House flipping has earned a bad name in the real estate industry.  Some investors work with crooked appraisers who misrepresent the resale value of the property, or loan officers who misrepresent a buyer’s ability to pay a mortgage.  

The market is saturated with bank owned homes and motivated sellers.   The average house flipper will buy the cheapest house in the area, do a quick, cheap rehab, get an inflated appraisal, falsify loan documents and sell the home for a huge profit.  Because of this unsavory practice, guidelines have been changed to make this game harder to play.

Alan Faitel considers himself to be a true real estate professional.  He has analyzed the market and he knows just what his is looking for.  Rather than being all over the map, Alan only works with properties in Oakland County that meet specific criteria such as 3 bedrooms, basement and a garage, for example.  Instead of doing a cheap rehab, Alan brings the home up to code and remodels the home so that it is appropriate for the neighborhood.   This means high-end homes get granite kitchen countertops, new cabinets, stainless steel appliances, hardwood floors, marble bathrooms, etc…

Alan Faitel, a licensed real estate broker and a licensed builder, is looking for people with cash to invest in real estate.  “In today’s market, everyone is looking for hard-money lenders or private money.  I have bought and sold several homes in the last year where I have made a good profit.  The turn-around time is typically 3-6 months and the investment is secured by a mortgage on the property.”  Visit http://realestatepartner.blogspot.com/ to see examples of some of Alan’s recent transactions.

Alan Faitel has bought and sold over 300 homes in Oakland County.   “This is a great time to invest in real estate,” said Faitel.  “There is plenty of product available and the price is right.  Investing in real estate takes knowledge and experience, time and money.  If you have the money, I have the time, knowledge and experience along with the resources to find the great deals, remodel them and sell them for a profit.”  Visit http://www.oaklandmichiganhomes.com/

Contact:

Alan Faitel - Broker
Oakland Homes, LLC
248-363-0100

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