“ReFresh” Detroit Success Has Bearing On Real Estate Market
When once there were automobiles, now there are businesses. Two weeks ago Detroit’s Mayoral Office announced it had selected five new neighborhood commercial corridors in the district as part of its on-going drive to encourage re-investment in the city.
Since the projects inception just over a year ago, the Office of Neighborhood Commercial Revitalization has overseen the birth of 211 new businesses, 700 new jobs, and delivered technical assistance, and start-up loans to a total of 2,000 firms seeking advice on business growth, and expansion. As a direct result of the ONCR influence, over $100 million of private investment has been pumped into the Detroit economy.
It’s good news for Detroit, and possibly the catalyst for a surge in domestic property investment as now has never been a better time to acquire a foothold in the market. Prices have been rising steadily since the turn of the year, and Ollie Booth of USA Property Investor (UPI) is quick to point out that those prices will keep on rising now in light of the recent upturn in fortunes for Detroit’s business community:
“While it’s good news for the city’s businesses, it won’t be good news for those looking to get a foot on the property ladder,” Ollie says earnestly. “Prices have continued to climb in the housing market, and really now is the best time for all those looking to invest in single homes for families, or multi units of two, three, or four apartments, or even commercial properties.”
And that’s where real estate firms such as UPI come in, bringing all their experience and know-how to make such investments easy, and stress-free. Detroit has been hot for a while, and UPI has been busy spreading the word that Detroit has been the place to make serious financial stakes for some time.
“Our aim,” says Ollie, “is to recycle low cost housing, turning foreclosed and uninhabitable houses in Detroit into refurbished, clean, safe homes for low income and often homeless families. These families are homeless, in many instances due to landlord foreclosures.
We provide a much-required service to a region struggling with a shortage of 30,000 rental homes. We are offering all our investors the benefit of a ‘hands free’ or ‘armchair’ investment. In return our investors will receive solid, passive income every month and a property that is poised to appreciate in value in the coming years. We refurbish all our investors’ properties at outset, within one all encompassing cost.
Our investors receive excellent yields with the additional benefit of knowing that they are helping to solve a housing crisis, assisting low income families in US, often not as fortunate as themselves, with the security of the Section 8 HCV Program backed by the US Government. This ensures that your rents are paid on time every month with no exceptions.”
So with the Mayor of Detroit giving the city ‘Refresh’, perhaps, says Ollie, it is time for private investors to Refresh their stakes in the city too.