Our Detroit program is well into it’s second year now and steaming ahead. We’ve successfully completed 50 investments for our clients in this time….
We’ve targeted new areas, enlisted another property manager, and offered a 10% discount for cash buyers.
Now even better, we’re offering a 12 month rental and maintenance guarantee instead of the six months we previously offered.
There is no other company that can offer a package like this:
• 10% discount for cash buyers ($36,000 purchase)
• 12 month rental and maintenance guarantee **NEW**
• Mortgage guarantee; Low interest, fixed rates for the life of loan!
• Guaranteed minimum 13% NET ROI
• A full turn-key service
You can read our updated Detroit Investment Guide >
Economic news from Detroit, ‘Motor City.’
The improvement in the motor industry and the growth of many other industries in and around Detroit was mentioned by President Obama. He recently mentioned that “the industry is recovering at a pace few thought possible”. In addition to Ford, Chrysler has announced an operating profit for Q1 2010 and it is reported that General Motors has created over 45,000 jobs with an additional 1,200 expected to be saved this year by the construction of a new vehicle in a factory just north of Detroit.
Those considering investing in Detroit and capitalising on the demand for rental accommodation will be interested to know that three bedroom family homes are available from as little as $36,000 / £24,000 on our Detroit program which includes refurbishement, tenants and professional management – A full turn-key service. Furthermore, we are the only company offering all our clients a guaranteed, non-status mortgage with a low, fixed rate interest rate of only 3.95%!
When purchasing in Detroit it is essential to select the right properties in the right locations. This task makes up 90% of the work we do with our local Detroit experts. With their help, we are able to identify for our clients the premium roads and suburbs in which to buy and can gain access to the most desirable properties as soon as they become available.
With real estate in Detroit increasing in price, there is a unique opportunity to invest in a market with massive potential both in terms of growth and high rental returns.
Interesting article on Detroit ‘Motor City’s’ housing market revival.
After years of decline, exposed and caricatured by satirist and filmmaker Michael Moore, Detroit is finally seeing growth with organisations such as the Detroit Economic Growth Corporation working to attract new business and working capital into the city and its surrounding area.
The US automobile industry, has long played a key role in the ‘Motor City’ of Detroit’s economic recovery, is also showing strong growth. The Ford Motor Co., for example, posted a $2.1 billion profit for the first quarter 2010, continuing the run of four straight quarterly profits since 2005.
In addition to this, as private and government investment flows in, demand for affordable accommodation and prospects for future employment look strong. Amongst recent projects is a proposal to construct the $5.3 billion Detroit River International Crossing project. This new project will connect Detroit to Windsor, Ontario on the Canadian side. It is forecast to create 10,000 construction jobs and more than 221,000 jobs in Michigan, many of which will go to outside workers and skilled crafts people from outside the area who will be looking for homes to rent in Detroit.
A great article about the Detroit property market:
Homes for sale in Detroit are finding ready buyers as the property market picks up says realtors.
Real estate in Detroit is increasing in value, says a new report. ‘Motor City,’ the capital of America’s car industry for decades, Detroit is, according to the latest House Predictor forecasts, number one in housing market growth in the US with a remarkable increase in prices of 21.5% in 2010.
A surge of growth in startup property management companies across the city to cater for the high demand of rental property and investors moving into the market can be seen throughout Detroit.
Growth in the industrial and service sectors have seen a demand for homes for rent in Detroit. There is currently a shortfall of some 30,000 rental homes in the Metro Detroit area and shrewd buy-to-let investors are purchasing refurbished family homes in the most sought after locations at prices as little as £32,000, at huge discounts to market value.
If you’r looking to invest in one of the most exciting and profitable housing markets in the world then get in touch. All our properties are turn-key; refurbished, tenanted and managed for $40,000. On top of this, all are clients are able to finance these deals on a low interest mortgage with rates less than 4% fixed!
Any investor new to the real estate market will need help and advice, so here we present our 7 tips to succeed in real estate investing. Read, understand and implement everything in this article and you’ll be well on your way to making your first solid investment in real estate.
#1 Partner with Experts
This is key; you cannot hope to know the ins and outs of real estate investing if you are new to the business, so you need to partner with an experienced party that can help you. You can develop a relationship with a real estate individual or a company; as long as they are reliable, experienced in real estate and honest you won’t go wrong.
#2 Work with Real Estate Developers
Very often some of the best bargains are to be had from developers selling off their own inventory; once you are in with the right developer you may be able to get some great bargains.
#3 Find Code Violations
A building code is a statutory requirement for a property; for example it may be that in a particular area they require some additional foundation work to protect the property from earthquakes. If the owner cannot afford the building work required to conform with this code, they may sell at a reduced price. All you need to do is to do the work and then you have a great property investment.
#4 Hunt Foreclosures
If a lender has to foreclose on a loan, they end up with what is known as a Real Estate Owned (REO) property, which they may not want to operate or own. So they will try and sell it off as soon as they can and will only look to recoup their original loan, so there may be many bargains to be had with foreclosures.
#5 Private Sales
In this recession and downturn, many sellers look to market their own properties without going through real estate agents, this way they avoid paying commissions. This can also be a source of many good deals.
#6 In Need of Maintenance
Properties in need of maintenance indicate that the owner is no longer interested in paying to upgrade the property, so these can also be good deals. These sales are often very easy as the seller is looking for a quick way out from the property.
#7 Create Your Own Numbers Spreadsheet!
Don’t rely on realtors for figures, do your own analysis and don’t forget to take account of taxes, commission, fees etc.