Multi Unit renovated and tenanted Investment property in Detroit - HIGH NET YIELD of 15%!!

Ref: US131
Selling Price: 46 000 USD
Price: £ 30 041 / 44 421 AUD
Area: Detroit

Bedrooms: 4

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Description property in usa

“Turn-key” investment requiring little input from the investor... full rental management included, no hassle, hands off property investment. There’s no better place to buy great value investment property at the moment than America.

Our US foreclosure properties offer returns of around 25% gross (10-15% NET) – they are low cost investment opportunities with tenants in situ and huge capital gains to be experienced over the next few years. We are the experts in selecting the right property. We only offer exceptional investments, like this excellent Detroit option in a stable residential area - sold fully renovated, with tenants, included in price.

·         Large 2 Unit Investment Property
·         Freehold property in sought after area
·         2 separate units… 1 upper and 1 lower
·         Each unit will rent for a minimum of 450 USD/mth
·         Wide tree lined street
·         Fully renovated (included in price)
·         Off road parking at front
·         Rental return = 900 USD/month

This is an ideal location for excellent rental income and price rebound. This is a nice middle-class area with good local schools, North West of Detroit City. It’s close to all facilities such as schools, shops and is not far from the University area and Detroit Golf club.

The property needs some small improvement but work will start very shortly and be completed by the time the purchase closes. Photos below and above are pre-renovation. The property will be renovated to ‘code’ which is the requirement to place a tenant into the property. The photos below show this property has been well maintained, and after having viewed the property, we can confirm our view that tenants will be very keen to rent and, most importantly, it should be highly saleable to make a very profitable exit strategy for the investor.

Prices are springing up from the absurdly low levels as local investors buy up such property, there are even bidding wars on many repossessions. Prices are now sharply on the up. Property tax is low even though the area is very good (approx 1200 USD per year).

NET return is just above 15% (including all costs such as building insurance which is not a requirement but recommended). This is an excellent return, not to mention the huge capital gains to be experienced as the market rebounds.

Buying process

1. Reserve with $2000 and pay Notary fee of $800 (payment can be made via a credit card or a bank transfer).

2. Preliminary Contract sent to you to sign and return within 48 hours.

3. Pay $34,000 to Company Client Protected Account within 2 weeks.

4. Pay $5,000 2 weeks later and $5,000 upon completion of works and tenant in place (approx 4-6 weeks after reservation)

5. Title Deeds will be signed, transferred into your name and registered in the US and then returned to you.