Investment boost for Detroit

Detroit mayor Mike Duggan is hoping investment can help trigger further rebuilding efforts in the city, which declared Chapter 9 bankruptcy in July of 2013. The investment is expected to assist the city’s urban redevelopment projects, provide loans to homeowners and help in the removal of urban blight such as abandoned homes, according to the Detroit Free Press.
“I think it’s a significant start,” Duggan told Lauer. “It’s a good jumpstart. With what Jamie and his team are doing, we’re going to have money to loan to entrepreneurs, so we can bring not just the neighborhoods back, but the businesses back.”

Lauer asked Dimon what he expects at the end of the investment’s five-year period.
“Jobs and population,” Dimon said. “If it works, you’ll have a healthy and vibrant economy, jobs and population, businesses will beget home ownership, better schools, and a completely revived city.”
The hope is that Detroit can become a blueprint for other struggling cities to emulate.
“I think it would be a great example, shining example, of what can be done,” said Dimon.

properties in Detroit see 8.8% price increase

International investors looking to enter the American property market will already know that pre-tenanted properties are one of the most stable choice when looking for a hassle-free investments.
Our buyers are just now discovering that buy-to-let properties in Detroit are a popular choice due to their strong capital appreciation and high rental yields.

According to the Detroit Free Press, both house sales and median prices of property in Detroit saw an increase in September due to increased sales activity throughout the summer months.

As experts in Detroit property investments it has come as no surprise to us at USA Property Investor that the popularity of pre-tenanted properties in Detroit is on the rise and this success is not exclusive to us. The Detroit Free Press also reported an 8.2% rise in sales from 4,222 to 4,568 in September, with median prices rising by 10% from $68,000 last month to $74,900 across Metro Detroit. In Wayne County alone, property sales increased by 1.6% from 1,776 to 1,804 in September. Median sales prices were also up 8.8% from $40,000 to $43,500.

These figures are really positive and prove that now is the right time for investors looking to enter buy-to-let property investments to start searching for the right property.

We believe that location is one of the most important factors when purchasing a property in Detroit, especially if you’re looking to rent it out. That’s why here at USA Property Investor we carefully pick the best properties, in the best neighbourhoods to ensure that our investors get the most out of their purchase.

With finance available and discounts for cash buyers on a variety of pre-tenanted houses in Detroit, USA Property Investor have a range of houses in popular areas in the city. For more details about buy-to-let property investment please contact us on Tel: +44 (0)845 438 0634 Tel: +44 (0)1253 820 905

Strong demand for properties in Detroit sparks bidding wars

Despite the fact that the housing market has been flooded since 2006, finding a refurbished, ready-to-move-in property in Detroit has proven hard for both buyers and renters.

This increasing demand for refurbished properties in Detroit has sparked bidding wars among house hunters, especially for those looking for quality homes in decent neighbourhoods.

Most House hunters are faced with a market dominated by trashed foreclosed homes or homes that are owned by people who simply could not afford repairs or updates during times of recession. Most home owners are reluctant to put quality houses on the market if there mortgages are underwater and are waiting for higher prices to return.

“As soon as anything hits the market, it’s a stampede to get there,” Andy Hargreaves from Plymouth Realtor commented. “It’s not uncommon for us to see five to eight offers on a good home.”

Property sales in Detroit have seen a 1.2% annual gain throughout July, with a strong demand in the summer months according to the S&P/Case-Shiller home price indices. Despite this, the number of homes for sale in Detroit dropped nearly 29% in July from the same time last year, according to data from Realtor.com.

What’s more, most purchased properties in Detroit were bought faster than the national average. In July the median age of inventory in metro Detroit was 67 days compared with 97 days nationally.

Over the last year the property market in Detroit has also seen a tightened supply of properties in the tri-county area. Oakland County had a 5.7-month supply at the end of June compared with a 6.8-month supply in June 2010.

In Wayne County, there was a 6-month supply of homes in June 2010, which fell to a 5.5-month supply a year later.

In a normal market has 3-6 months – anything over 6 months is a buyer’s market, and less than 3 months is a seller’s market.

These factors have contributed to what property experts have named a ‘bidding war’ for ready-to-move-in properties in Detroit.

Buy-to-let properties in Detroit have become a popular option for investors looking for strong rental yields and potential capital appreciation. Working with property specialists, investors can purchase refurbished houses through professional management companies who offer pre-tenanted options for an instant income.

With tenancies in place for 12 months – and most tenants looking for long terms lets due to lack of available, quality housing – this is a hassle-free way for purchasers to generate income from the property market in Detroit.

What is Section 8? The USA Housing and Urban Development scheme

Listen to Mark and Darrick talk about the benefits of section 8 tenants and why landlords all over only want tenants on this program.

Detroit has become ground zero for foreclosures in the USA and the incredible value that property investors get in Detroit for overall yields when they invest in fully rehabbed, turn key rental property that has guaranteed rent coming in.

Listen to our Detroit partners Mark & Darrick talking about the unique opportunity that exists in Detroit right now.

Investing in Detroit is one of the most lucrative and profitable investment strategies in the world right now. With NET returns in excess of 13% on every deal, and low interest financing available for all our clients, there has never been a better time in any investment cycle – NOW is the time to invest.

What Type of Properties Should You Stay Away From?

Listen to Mark and Derrick talk about the kinds of properties you should NOT buy. Choose your areas carefully, know your property types, understand those that make popular rentals and have strong appreciation and resale appeal.

Investing in Detroit is one of the most lucrative and profitable investment strategies in the world right now. With NET returns in excess of 13% on every deal, and low interest financing available for all our clients, there has never been a better time in any investment cycle – NOW is the time to invest.

http://youtu.be/oun37BUwpIE