While
you can't dismiss the fact that the city of Detroit is in a financial
crisis due to the recent high profile bankruptcy and highly
publicized mismanagement of funds from past city officials, the wise
investor knows that in every crisis is opportunity.
Detroit
real estate has recently been described in the media as a 'bargain
basement bonanza' and a 'bargain hunters paradise' with houses for
sale as low as $1.00. With prices this outrageously low, it is easy
to see why Detroit real estate is attracting so much media and
international attention. Where else in the US can you buy a house for
the price of a 'pair of shoes'?
But
did you know that sophisticated investors are not buying the cheap
properties for $1.00 or $500.00? The smart and sophisticated
investors are placing their money in renovated 'turn-key' properties
that are generating significant and generous rates of return (as high
as 42%). They are investing in quality properties located in quality
neighborhoods with quality and qualified tenants and letting their
hard earned money work even harder for them.
As a
lifelong resident, licensed real estate broker and active real estate
investor, I can attest to the fact that now is definitely the best
time to buy and invest in Detroit real estate and other experts
agree. According to recent article in Crains Detroit Business, home prices in Detroit have rose by 17.29% from a year ago with some market analysts
predicting home prices to rise by as high as 33.1% by the end of
2014! This creates a fantastic opportunity for you to make money if
you are ready to take action now!
However,
one of the things you need to watch out for are scam artists in
Detroit who consider international investors as 'easy prey'. This is
where it pays to have 'boots on the ground'.
Successful
international investors are employing the services of a licensed
Detroit real estate expert to assist them in making wise investment
decisions. Just as you wouldn't go fishing without a net, you
shouldn't invest in Detroit real estate without having a local expert
to consult you and represent your best interests. Not only will the
right local expert help you save face, you will also save money, time
and stress in the process.
You
should have a local and trusted real estate expert who knows the
market and will physically visit the properties on your behalf and
provide you with a detailed photo report, property inspection and
unbiased value opinion on your investment properties. This way, you
will know for certain that you are buying a good property in a good
neighborhood and not a vacant lot or burnt down house in a bad
neighborhood.
While
other new investors are struggling and scratching their head trying
to figure out how to buy Detroit real estate on their own (and end up
losing thousands of dollars in bad investment decisions), you will
have it easy with a Detroit real estate expert on your side virtually
assuring you that you are making a solid investment decision with
your hard earned money.
It
is important for you to know that Detroit is now under new
leadership, crime is on the decline and the doors are wide open to
Chinese investors who have the capital to invest. With entry level investment opportunities starting at only 14k (that are providing up
to a whopping 42% return on your investment!) it makes sense to
invest in Detroit real estate. Along with the huge demand for rental
housing and home values steadily on the rise, now is the perfect time
for you to take advantage and reap the financial rewards that await
you.
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