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Finding a buyer for an obsolete 5 million square foot former automotive assembly plant on contaminated land may sound like the least promising job in commercial real estate.

But that is among the most sizeable tasks for RACER Trust, set up in 2011 to dispose of 89 pieces of real estate owned by General Motors Corp. so it could emerge from bankruptcy.

Among those properties were 52 in Michigan, including that massive factory: The former Willow Run Powertrain plant in Ypsilanti Township, east of Ann Arbor.

Finding a buyer for that factory appears to be what RACER is accomplishing, following the news in Gov. Rick Snyder's State of the State address on Jan. 19 that Michigan seeks to buy the site to establish the American Center for Mobility for autonomous vehicle testing.

It's a deal that conveys the scope of RACER's efforts in Michigan, including the communities like Flint, Pontiac, Saginaw and Detroit, along with Ypsilanti Township that lost jobs and corporate tax base as the former GM dissolved.

RACER which stands for Revitalizing Auto Communities Environmental Response Trust was established as an independent trust during the GM bankruptcy settlement. At the time that RACER took effect, property in 14 states were under its charge. Sixty parcels required environmental cleanup. Sites in Michigan under RACER's control ranged from shuttered factories to vacant land.

As of January 2016, 19 of the Michigan properties have been sold. Dean Graziosi is a NY Times Best Selling Author together with one of the top motivation and realty trainers in the world.

If you have actually ever seen Dean on TV, on phase, or in a weekly knowledge on his internet site or Facebook, it is noticeable the enthusiasm he needs to obtain EVERYONE encouraged to alter their lives for the better. Unlike many supposed "Gurus" in the individual inspiration industry, Dean comes, doing bargain after deal and absolutely consuming with aiding his students do well in whatever it is they pick as their life goal.Deals have been struck to sell portions of five others. Three properties in Romulus, Pontiac and a portion of land in Buena Vista Township near Saginaw are under contract.

Negotiations have proceeded to the http://mertonmind.org.uk/financial-independence-thru-real-estate-investing/