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 craftspeople from outside the area who will be looking for homes to rent in Detroit.
This blog is about property investing in the USA. Our aim is to provide low cost, high cash flow properties to our clients in a time when UK property doesn't offer returns worthy of investment.
Tuesday 31 August 2010
Saturday 28 August 2010
Detroit Property up | Ranks No.1 in Real Estate Market
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!
If you are serious about investing or require more information, please contact me direct at ollie@usapropertyinvestor.co.uk or call me direct on +44 (0)7807 520 502.
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!
If you are serious about investing or require more information, please contact me direct at ollie@usapropertyinvestor.co.uk or call me direct on +44 (0)7807 520 502.
Tuesday 24 August 2010
A return of non-status lending in the USA - It begins!
Some great news from our mortgage broker.
A brand new, non status mortgage product has been released suitable for all properties, any state, any type, and any nationality. Is this a sign of things to come?
Probably.
Buyers and investors need financing. Lenders need to lend. Simples!
This product was originally tried in 12 states from California to Arkansas and has now been made available in any state.
In property investing there are cycles and it's at which point in the cycle you act will determine the success of your portfolio.
There are always good times and better times. The point within a cycle that is most accessible and therefore profitable is when property prices are low and financing is available - the two rarely go together. This window within the cylce is rare and usually only taken advantage of by few - blink and you'll miss it.
As financing becomes more fluid and accessible property prices will inevitably rise.
If you've not been convinced that now is the time to buy then this should change your opinion.
For more info on financing drop us an email, info@usapropertyinvestor.co.uk
A brand new, non status mortgage product has been released suitable for all properties, any state, any type, and any nationality. Is this a sign of things to come?
Probably.
Buyers and investors need financing. Lenders need to lend. Simples!
This product was originally tried in 12 states from California to Arkansas and has now been made available in any state.
In property investing there are cycles and it's at which point in the cycle you act will determine the success of your portfolio.
There are always good times and better times. The point within a cycle that is most accessible and therefore profitable is when property prices are low and financing is available - the two rarely go together. This window within the cylce is rare and usually only taken advantage of by few - blink and you'll miss it.
As financing becomes more fluid and accessible property prices will inevitably rise.
If you've not been convinced that now is the time to buy then this should change your opinion.
For more info on financing drop us an email, info@usapropertyinvestor.co.uk
Friday 20 August 2010
Seven property investment tips you should take note of
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.
USA Property Investor is a one-stop shop for all the tips mentioned above, we can advise on all aspects of US real estate investing. To learn more and to see how we can help you, call Ollie on 07807 520 502 or email here, ollie@usapropertyinvestor.co.uk
#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.
USA Property Investor is a one-stop shop for all the tips mentioned above, we can advise on all aspects of US real estate investing. To learn more and to see how we can help you, call Ollie on 07807 520 502 or email here, ollie@usapropertyinvestor.co.uk
Friday 13 August 2010
Detroit's General Motors release bumper profits and says it's gonna get even better
Detroit's biggest car manufacturer, General Motors has releases it's first
quarter profits for this year in the amount of $865 million. This is much
better than expected and great news not just for the stock holders and the
government who gave them a $50 billion bailout package not so long ago. It's
great news for employees and would-be employees looking for work in 'motor
city.'
The chief executive went on to say "if you liked our first quarter financial
results, stay tuned for our 2nd quarter. You will like it, it will be
impressive."
Not so long ago communities were angry about the closure of some plants, and
dealers were frustrated about the decision to close a lot of it's franchises.
Now things are looking very different indeed. Now dealers are upset because GM
can't build enough cars to cover demand, and suppliers are stressing out
because of GM's increased production. The unofficial word is that a new GM
plant will be opening soon to cater for just this.
In addition to this, President Barack Obama declared that the US car industry
is not just rebounding from recent problems, but on it's way to being No.1 in
the world again - a bold statement!
Further reports from the President said that the big three auto manufacturers,
Ford, Chrysler and GM (all of which have huge operations in Detroit and surrounding cities,) were all operating at profit again.
A new deal between the government and Ford to lend them a $250 million bank
loan to help export cars overseas, is expected to be repaid within 1 year
including interest and charges.
The motor industry plays such a huge role in Detroit and it's neighboring
towns. With this bright outlook and the government's commitment, we can see
why Detroit is one of the strongest recoveries economies in the US.
Perhaps we're all gonna be seeing the words "made in America" inprinted behind
our rear view mirrors before long!
For more information and advice about investing in Detroit property through
UPI, please contact me direct at ollie@usapropertyinvestor.co.uk or call me
direct on +44 (0)7807 520 502.
Ollie Booth
ollie@usapropertyinvestor.co.uk
+44 (0)845 438 0634
quarter profits for this year in the amount of $865 million. This is much
better than expected and great news not just for the stock holders and the
government who gave them a $50 billion bailout package not so long ago. It's
great news for employees and would-be employees looking for work in 'motor
city.'
results, stay tuned for our 2nd quarter. You will like it, it will be
impressive."
Not so long ago communities were angry about the closure of some plants, and
dealers were frustrated about the decision to close a lot of it's franchises.
Now things are looking very different indeed. Now dealers are upset because GM
can't build enough cars to cover demand, and suppliers are stressing out
because of GM's increased production. The unofficial word is that a new GM
plant will be opening soon to cater for just this.
In addition to this, President Barack Obama declared that the US car industry
is not just rebounding from recent problems, but on it's way to being No.1 in
the world again - a bold statement!
Further reports from the President said that the big three auto manufacturers,
Ford, Chrysler and GM (all of which have huge operations in Detroit and surrounding cities,) were all operating at profit again.
A new deal between the government and Ford to lend them a $250 million bank
loan to help export cars overseas, is expected to be repaid within 1 year
including interest and charges.
The motor industry plays such a huge role in Detroit and it's neighboring
towns. With this bright outlook and the government's commitment, we can see
why Detroit is one of the strongest recoveries economies in the US.
Perhaps we're all gonna be seeing the words "made in America" inprinted behind
our rear view mirrors before long!
For more information and advice about investing in Detroit property through
UPI, please contact me direct at ollie@usapropertyinvestor.co.uk or call me
direct on +44 (0)7807 520 502.
Ollie Booth
ollie@usapropertyinvestor.co.uk
+44 (0)845 438 0634
Wednesday 11 August 2010
Detroit | Strongest housing market, 33% increase by 2014
Quoting from an original article this week on America's strongest housing markets.
Here's what they have to say about Detroit.
Biggest home price increase projected in 2014
Forecast 4-year price increase: 33.1 percent
Current median price: $51,000
Median family income: $54,400
Population: 1,925,850
"Since reaching a peak in 2006, home prices in the Detroit area have fallen 60.5 percent, according to the Fiserv Case-Shiller Indexes. As homes have become more affordable—the median home price in Detroit is lower than median family income—demand is expected to pick up. Prices are forecast to jump 33.1 percent over the next four years. George Moma, a broker with Century 21 Dupont Realtors, says the growing prevalence of short sales over foreclosures will help drive up the median price in the Detroit metro area. He adds that the area is attracting interest among international investors from the U.K., Dubai, Moscow, India, Ireland, and France."
There has never been a better time to invest in this market. With prices low and rental demand high, now's the time to start converting your mony to dollars.
For more information and advice about investing in Detroit through UPI, please contact me direct at ollie@usapropertyinvestor.co.uk or call me direct on +44 (0)7807 520
Here's what they have to say about Detroit.
Biggest home price increase projected in 2014
Forecast 4-year price increase: 33.1 percent
Current median price: $51,000
Median family income: $54,400
Population: 1,925,850
"Since reaching a peak in 2006, home prices in the Detroit area have fallen 60.5 percent, according to the Fiserv Case-Shiller Indexes. As homes have become more affordable—the median home price in Detroit is lower than median family income—demand is expected to pick up. Prices are forecast to jump 33.1 percent over the next four years. George Moma, a broker with Century 21 Dupont Realtors, says the growing prevalence of short sales over foreclosures will help drive up the median price in the Detroit metro area. He adds that the area is attracting interest among international investors from the U.K., Dubai, Moscow, India, Ireland, and France."
There has never been a better time to invest in this market. With prices low and rental demand high, now's the time to start converting your mony to dollars.
For more information and advice about investing in Detroit through UPI, please contact me direct at ollie@usapropertyinvestor.co.uk or call me direct on +44 (0)7807 520
Friday 6 August 2010
Feelin the Detroit City heat and loving it!
I've traveled to Detroit this week to meet my team and meet some new members of our expanding team.
Looks like I came at the right time as the weather here is scorching hot! must be mid 30's everyday - beats old blighty right now!
We've got so much going on here, property purchasing for clients, refurbishments, inspections, tenant screening, title work, new areas we're looking at investing in, land contracts, the list is endless.
It's not all work though. Downtown Detroit is lots of fun. Shopping centres, IMAX cinemas, Detroit Tigers played yesterday (I missed the game by the way,) bars and restaurants. I'd definitely recommend taking a visit here if you get the chance.
Detroit's housing market continues to strengthen. Lots of demolishen of old redundant neighborhoods being converted into parks, and scenic areas within the city. Demand for rental property is soaring amongst investors and we feel this first hand. Section 8 are struggling to keep up with demand to do their inspections, which although frustrating for us and our clients, it is still a very good problem to have!
All in all a Detroit is a great city, business or pleasure, and I'd totally recommend putting it on your itinerary.
As for me, today I'm going back into downtown Detroit to do some shopping and then back to Dearborn for some more meetings with some of our team members this afternoon, then back to Plymouth to watch a movie and some dinner - well, I can't work all the time!
Looks like I came at the right time as the weather here is scorching hot! must be mid 30's everyday - beats old blighty right now!
We've got so much going on here, property purchasing for clients, refurbishments, inspections, tenant screening, title work, new areas we're looking at investing in, land contracts, the list is endless.
It's not all work though. Downtown Detroit is lots of fun. Shopping centres, IMAX cinemas, Detroit Tigers played yesterday (I missed the game by the way,) bars and restaurants. I'd definitely recommend taking a visit here if you get the chance.
Detroit's housing market continues to strengthen. Lots of demolishen of old redundant neighborhoods being converted into parks, and scenic areas within the city. Demand for rental property is soaring amongst investors and we feel this first hand. Section 8 are struggling to keep up with demand to do their inspections, which although frustrating for us and our clients, it is still a very good problem to have!
All in all a Detroit is a great city, business or pleasure, and I'd totally recommend putting it on your itinerary.
As for me, today I'm going back into downtown Detroit to do some shopping and then back to Dearborn for some more meetings with some of our team members this afternoon, then back to Plymouth to watch a movie and some dinner - well, I can't work all the time!
Subscribe to:
Posts (Atom)