Real Estate in Detroit

Real Estate in Detroit

Why does it make sense to invest in Detroit?

It’s no secret that Detroit was hit hard by the recession.

Massive job losses meant people could not pay their mortgages and foreclosures hit an all time high.

As a result house prices fell to their lowest since 1993.

Today, even when people can afford a mortgage, banks are too scared to lend.

So these people are forced to rent.

This means there is a huge demand for high quality rental homes in good areas.

Now is the time to take advantage

Detroit is starting to recover.

Unemployment rates are falling.

House prices are rising.

But prices are still at their lowest since 1993.

And the average rent for a 3 bedroom home in a middle-class area of Detroit is US$ 900 a month.

This means you can earn a rental income of 16% (net) and often more.

Remember, that is net – after management fees, property taxes and insurance.

Plus, all properties have tenants in place.

So you earn an income from day one.

Strong Capital Growth

Today you can buy high quality, 3-bedroom homes in middle-class areas of Detroit for a fraction of what they were worth just a few years ago.

But house prices in Detroit have already started to rise and sales are increasing.

According to the National Association of Realtors, in the last 12 months the average price of property in Metro Detroit has risen by 7.7% to US$ 70,000.

This is still far below the 2005 average of US$ 172,000 – so it leaves you plenty of room for capital growth.

In September 2011, sales increased by 8.2% over 2010.

In October 4,176 homes were sold compared to 3,983 in 2010. A rise of 4.8%.

And in November multiple listing service Realcomp II Ltd. reported property sales in Metro Detroit rose for the fourth month in a row:

“After four months of consecutive gains in the local housing market, we can probably say it’s the start of a recovery,”

As the economy improves and banks start to lend again, demand will increase considerably.

This means you will benefit from high capital growth and have a large target market to sell your property to when you are ready.

Big business has already noticed the opportunity and is investing millions of dollars in Detroit.

Once banks start to lend again prices will rise quickly and this opportunity will be gone.

Easy to manage, hassle free investment

These properties have been completely refurbished often with new roofs, re-wiring and plumbing.

They are certified to meet current US Government health and safety regulations.

This means you don’t need to worry about any costly repairs or maintenance bills in the next few years.

A top Detroit management company with many years of experience looks after everything for you.

They will find you new tenants if you need them.

They’ll make sure your house is well maintained.

They will collect your rent and pay your money into your bank account. This can be in the US or anywhere in the world.

On top of that, you get access to a 24 hour help line – so you can call anytime.

You also get your own website login where you can access your monthly account statements, your signed contracts with tenants, your property tax receipts, your maintenance quotations and bills, a copy of your management agreement and inspection reports for your property.

Location, Location, Location

As with any city there are good and bad areas.

The properties we offer are all in middle-class suburbs of Detroit.

They are close to major highways, good schools and amenities in desirable areas where respectable families want to live.

We can provide the address for every property we offer so you can see the location for yourself, thanks to Google Street View.

What type of property can you buy?

Bungalow located in Waren on a ground of 430 m2 Waren is a suburb to the North of Detroit

Careful Tenant in place.  Insured rent

Surface area: 110 m2 3 rooms 1 bathroom 2 garages Purshasing price: 49 900$ Profitability: 13,8%    Rent: 800$

Want to know more?

http://www.sunfim.com/en/Investir-produits-immobiliers-usa-134.html