Why invest in Detroit
Detroit Real Estate Market
Investing in Real Estate is a goldmine business and it has proven over the past few years to be more profitable if invested in the right places.
Over the past few years, the crises that hit Detroit where big companies and individuals went bankrupt. This made most of the people leaving in those areas became unemployed and they were forced to either sell or give back their properties to the bank.
Due to this effect, the prices of houses dropped by 75% and the banks were not getting anyone to buy the houses it has been given back to them. They couldn’t also give out additional mortgages again.
Many changes has happened in Detroit after the crises. Many people are now employed and are actually living in their respective decent houses. The quality of the houses In Detroit is below average so this creates an opportunity as an investor to reap super normal profit of over 16% on their investment when invested in Detroit real estate.
Why do I have to start investing now?
The prices of real estate properties in Detroit increased by 8.3% in last year and this is likely to increase this year. This is because, home owners are deployed to give out mortgages on Detroit real estate.
A tenant paying $775 each month should be able to get a mortgage well above $100,000 for less than the rent. This could be your house that you bought for $45,000 and which you have been renting for $775 a month.
There is no better place to invest in real estate and reap super normal profit than investing in Detroit Real Estate.
Just give it a thought and you would realize how profitable it could be …..?
Is this an investment for you?
Many real estate agents in Detroit claim to do a professional work but ends up taking all your money away. At Oak Corner Estate, our team of professionals will help you in managing and maintaining your investment to get the best out of it.
Political and Economical changes in Detroit
The last years we see big changes in Detroit. Political and economical, both very important to make Detroit healthy again. Down Town Detroit has changed dramatically with companies as Quicken Loans, Little Caesars and many others opening head quarters here and employ well over 15,000 people in the area. Other companies like Google and Amazon announced to open offices in the City. Industries that do very well are tech/IT, financial, automotive, art, fashion and retail due to the ever growing number of people in Detroit.