Detroit property

Detroit, the largest city in the State of Michigan, has recently emerged as a unique investment opportunity for the savvy investor.

We are focusing on Detroit, Michigan because there is an acute shortage of affordable housing for rent. All the properties are refurbished at the outset by HOME DEPOT Inc., a ‘Fortune 500’ company, within one all encompassing cost. We offer you, the investor, the benefit of a ‘hands free’ investment as the properties are all professionally managed by Garner Properties and Management, LLC who have been operating in Detroit since the mid-50’s. For the first 24 months the property is maintained at no cost to the investor. This is backed by HOME DEPOT. The investor will only be required to pay property tax, property management costs and insure the property throughout ownership.

The properties are fully refurbished to exceed US Department of Housing and Urban Development and City of Detroit standards and sold at 40% below the current appraised market value.

US Government Backed Returns
All our Detroit partners work in conjunction with the US Department of Housing and Urban Development (HUD) to place tenants. The rents are either all, or in the majority, paid by the US Government direct to the owner – not the tenant. The properties are 3 or 4 bedroom detached homes and are located in carefully selected communities where the population is increasing and existing properties are of a very high standard.

Summary
With 3 bedroom newley refurbished properties available to own outright from only £28,772 (with no further closing costs or fees payable) and rental yields of over 21% backed by the US Government HUD programme, now is the right time to invest.

 

Detroit is the largest city in the State of Michigan, located in the upper Eastern portion of the United States. This major industrial centre is also a port city on the Detroit River and located North of Windsor, Ontario. In fact, Detroit is the only major US city that looks south towards Canada. It was founded in 1701 by the Frenchman ‘Antoine de la Mothe Cadillac’ and is home to in excess of 5.4 million people.

The State has a workforce of nearly 2.8 million people, with approximately 240,000 businesses. The Metro Detroit area has made Michigan’s economy a leader in information technology, life sciences and advanced manufacturing; Michigan ranks fourth nationally in high tech employment with 568,000 high tech workers, including 70,000 in the automotive industry. Michigan typically ranks second or third in overall Research & Development expenditures in the United States. Metro Detroit also serves as the headquarters for the U.S. Army Tank-Automotive and Armaments Command, known as TACOM. Detroit Metropolitan Airport (DTW) is one of America’s largest and most recently modernised facilities, with six major runways, Boeing 747 maintenance facilities and an attached Westin Hotel and Conference Centre.

Detroit has major port status and an extensive expressway system. A 2004 Border Transportation Partnership study showed that 150,000 jobs in the Detroit-Windsor region and US$13 billion in annual production depend on Detroit’s international border crossing. A source of top talent, the University of Michigan is one of the world’s leading research institutions, and Wayne State University in Detroit has the largest single-campus medical school in the United States.

Invest from only £27,273 cash plus £1,500 buying costs

Simple reservation and purchase procedure

UK based admin office to handle paperwork

Hands free:

• Refurb is project managed
• Licenses obtained
• Tenants placed
• Rent Collected

• Funds deposited in UK Escrow account
• Purchase under strictly regulated US
• Real Estate practices
• Title company handles the legal ‘closing’
• Warranty Title Deed and Title insurance issued

This investment does not require any mortgage qualification or liability as the properties are acquired for cash requiring an investment from US$45,000 (£27,273) plus approximately US$2,475 (£1,500) buying costs. Also all initial refurbishment costs and work, ongoing tenant management and the first two years full maintenance costs are taken care of making this a truly hands free property investment. Three strategies we recommend are:

Exit Strategies:

Lease to own - Buy a property (40% below market vale). Tenants on a ‘lease to own’ scheme will be placed. Then you hold for up to 5 years and resell to the tenants on a pre-agreed price (normally higher than the current appraisal or market value).

Long term hold - Buy a property and enjoy yields of over 21% for as long as you wish to own the property. This strategy provides a long-term significant income and massive potential for capital growth. It will pay back the initial purchase price in less than 7 years from the rental income alone.

Short term re-finance, long term hold - Subject to availability. Re-Finance your portfolio and generate capital, tax free & re-invest in other Detroit properties. Net rental income more than covers the mortgage payment. Note: this is only available after one year of rental history can be shown and is for up to 65% of the appraised value.