Wholesale Properties: Detroit Bankruptcy: Your Best PR Move Yet?

Has the Detroit bankruptcy really been the real estate industry’s best PR move yet? If so, how can others replicate this success to fuel their own efforts to wholesale properties for huge profits?

Bankruptcy traditionally comes with a bad rap, but as many have recently seen, it can actually be a very positive thing. This is not to say that it doesn’t have many negative consequences that can haunt people and brands for decades, and should never be considered without much research, but it does have a silver lining.

Recently, we’ve seen thousands of Americans file for bankruptcy and emerge with a clean slate and stellar credit scores. Detroit’s giant automakers went through it and are doing even better today. Now Detroit itself is seeing some surprisingly positive side effects of filing for bankruptcy.

Rather than scare off investors or buyers, recent coverage of the city’s financial woes appears to be forcing more sales activity than ever.

For starters, Canada is already moving to buy the US side of the international tunnel. Real estate agent reports reveal Chinese buyers stampeding to buy 30, 70, even several hundred homes at once. Most don’t even want to see them, they just say “pick the best ones”. For global investors, you can literally get a couple of houses in Detroit for the price of a really nice outfit.

Those wholesale properties are experiencing one of the biggest booms in history and this isn’t even one of the top markets in the country for home remodeling according to RealtyTrac. Homebuilders are even planning more than $60 million in new housing communities in the city, which will increase the attractiveness and value of properties.

How good Detroit’s housing rebound really will be, and how fast it will come, remains to be seen, but there’s sure to be a lot of money being made selling wholesale properties right now.

This isn’t just about Detroit, either. It’s about the power of PR, positioning, and it can be applied anywhere, from the hardest-hit foreclosure markets to those already recovering well.

Real estate investment firms and even individual investors selling wholesale properties can make this work themselves, or even team up with local governments and tourism agencies to put out press releases, blogs and articles and spread the word. through social networks and more. Right now it’s easier than ever with endless opportunities and reasons to increase attention.