Believe it or not, it’s 25 years since a new apartment building was built in Downtown Detroit.
But all that changed on 25th March.
When plans for a new US$ 40,000,000 apartment block were approved by the City.
The Statler City Apartments are being built on the site of the old Statler Hilton Hotel in Grand Circus.
Inside will be:
235 – 1, 2 and 3-bed apartments
Restaurant
Indoor and outdoor pools
Fitness center
Business center
Conference room
Zen garden and courtyard park
Club room with bar, televisions, fireplace and gourmet kitchen
Concierge services
The project is scheduled for completion in Q4 2017.
But there is a problem.
You see, experts say 15,000 new jobs will be created in Detroit this year alone.
And average apartment rents are now over US$ 2 per sq. ft.
With an average vacancy rate of only 1.9%.
So people who want to live Downtown are getting priced out…
In 2009 Kevin Orlink was paying US$ 1,150 a month for a 2-bedroom apartment in the Kales Building.
But last year his rent soared to US$ 1,550.
So he was forced to move.
And Kevin says he’s not alone…
“A lot of my friends have been forced out. They couldn’t find anything either in the price range or where they wanted to stay Downtown.”
The good news is, you can use this problem to your advantage.
You see, people like Kevin are moving to the suburbs.
Places like; Morningside, East English Village, Conant Gardens, Warrendale and Grandmont-Rosedale.
Because these neighborhoods are only 15 minutes from the central business district.
And it’s not surprising when you consider they can rent a detached house from US$ 600 a month.
Your advantage is, I can still offer you fully refurbished, tenanted properties in these areas from
US$ 44,362.
And you will earn rental yields as high as 17.00% net.
So if you’d like to see what’s on offer in the Detroit suburbs – just reply to me.
Let’s have a quick look at a few that are available right now.
This one is on Chatsworth Street in Morningside…
It’s only 200 metres from Ronald Brown Academy, Alger Theater and Jefferson Library.
Chandler Park Golf Course and the Family Aquatic Center are a 10 minute walk.
This house has 4 bedrooms, 2 bathrooms, a living room, a kitchen, a 984 sq. ft. basement and a
4,792 sq. ft. garden.
Your tenants are a couple with 3 children aged 8, 10 and 15.
Their monthly rent is US$ 850.
This property is on offer for US$ 50,788.
Your net yield is 16.48%.
That’s US$ 8,368 in your bank account every year.
Want full details?
Simply reply to me.
This place is on Devonshire Road in Morningside…
It’s 200 metres from Grosse Pointe Public Schools, Ronald Brown Academy and Jefferson Library.
And a 10 minute walk to Country Club of Detroit and St. John Hospital.
This house has 4 bedrooms, 2 bathrooms, a living room, a kitchen, a 1,050 sq. ft. basement and a
4,792 sq. ft. garden.
Your tenants are a husband and wife with 4 children aged 3, 4, 7 and 10.
Their rent is US$ 850 per month.
This property is on offer for US$ 51,000.
Your rental yield is 16.43% net.
That’s US$ 8,378 in your pocket every year.
Want to know more?
Just reply to me.
This last one is on Gallagher Street in Conant Gardens…
It’s 200 metres from Pershing High School and Farwell Field.
And only 15 minutes’ walk to Davison Elementary-Middle School and Gateway Marketplace.
This house has 3 bedrooms, 1 bathroom, a living room and a kitchen.
There’s also a 710 sq. ft. basement and a 5,227 sq. ft. garden.
Your tenants are a couple with 2 children aged 7 and 11.
Their rent is US$ 775 per month.
This property is on sale for US$ 45,995.
Your net return is 16.43% – after all expenses.
That’s US$ 7,558 in your hand every year.
If you’d like to know more – simply reply to me.
Remember all our USA investment properties are:
Fully renovated – average cost of works US$ 20,000
Already tenanted with pre-screened tenants – you get paid from day one
Professionally managed – your rent is paid on time into your own bank account
Plus, with our Detroit properties you get all this free:
Free Title Insurance – value US$ 499
Free 1 year Property Insurance – value US$ 495
Free 12 month Home Warranty – value US$ 700
Total value = US$ 1,694.
I won’t offer you unrealistic guarantees which can’t be fulfilled, like some people I could mention.
But I do promise you…
Your vacancy rates will be very low (last 3 years 3.58% average)
You will always get paid what you are due
I will stay right by your side for as long as you own your property
It doesn’t matter if it’s 3 months or 30 years – if you have a problem I’ll be here to help.
Because I know that if you get the returns you are expecting you’ll come back for more.
You might even refer your friends and family, if I’m really lucky.
And unlike many of my competitors I don’t charge you a finder’s fee, an enabling fee or an arrangement fee.
In fact I don’t charge you any fees at all.
So if you’d like full details of what’s on offer in Detroit – just reply to me.
Best,
Rebecca