subject: U.s. Investment Properties For Overseas Buyers [print this page] U.S. investment properties for overseas buyers
In a survey, Fannie Mae found 64% in U.S. believed this to be a good time for investment in real estate.Recession has made home buyers excessively cautious and unless you are convinced, you may not invest in anything but downturn brought opportunities for the buyers who were reluctant to invest in high priced properties prior to recession. The cheap foreclosure real estate market of U.S. is the hidden opportunity of today, which is flourishing now and it has many bidders, who are taking advantage of the excessively low rates.
Mayfair Group provides exclusive opportunities to overseas investors in U.S. Properties and these kinds of deals may not stay for long in market. Overseas investors can buy highly furnished beautiful three-beds-two-bath detached house with tenant placed in, at a bargain price of $41,495 that is fifty percent less than the current market value.
A non foreclosure home in Detroit can be sold for more than $100,000 but Mayfair Group provides foreclosure houses and hence, the investors can get homes at a low price. Investors can get freehand ownership of the property and all the related documents without going to the city. The properties are offered in Detroit because of its booming rental and job market.
Detroit can provide attractive rentals
The gross rental yield can be up to 25% a year and the city Detroit has huge demand for rentals because many residents could not buy the properties due to poor credit ratings.
In Detroit, tenants can pay rental up to $750 per month, which is a minimum rental and 95% of rent is guaranteed by the U.S. government under Section 8.The investors can fetch gross earning up to $9,800 per year through rentals.
There is a shortage of at least 30,000 rental homes in Detroit and in Detroit metro 9,176 families are in HUD housing choice voucher waiting list.
Over 9,000 tenants are waiting to occupy homes under section 8.
Detroits job market indicates positive trends in first quarter 2010
1.Detroits motor companies received $50 billion stimulus during the recession period and in the first quarter of 2010, the motor companies are preparing to show profit in the year. General Motors has planned to payback the stimulus amount to U.S. government by the end of June 2010 and the company even plans to start a new car plant in Michigan.
2.A new research centre has been opened at Michigan by General Electrical, which will increase job opportunities in the state.
3.Detroit city may see a Hollywood Film Production Studios in near future and the announcement to open the studio was made in February 2009.
4.$35 billion sanction was announced in March 2010 for Local Housing Detroit Real Estate.
5.The government plans to put an end to the foreclosures in Detroit and before renewal one should take a decision of spending in real estate market.
Services provide by Mayfair Groups local partners
Mayfair Groups local partners search for the appropriate property in a great neighborhood in Detroit, which enables the property to be rented easily and it confirms the status of the property by assuring the tax and insurance related information.
The company places a bid for the property and as the bid is approved the legalities of the property is confirmed to get the property .The security is re-established and refurbishment work of the property starts the next day. After the completion of refurbishment, the company acquires the certificate of occupancy from the City inspector, which is necessary for giving a house on rent.
The property is listed to the database of tenants and advertising is done in local market to get a tenant .The companys local partners rehabilitate a reliable tenant into the house.
