Property For Sale In Michigan Is Top US Property Foreclsure Investment Destination

Posted by Credit expert

February 9, 2012

For many, Property in Michigan for sale is now a realistic investment option because of the low entry level into the housing market, which currently has a number of foreclosures, and an overwhelming demand for rental accommodation.

As stated by the leading housing data research firm, RealtyTrac, in 2011, 23% of all residential property sales in Michigan were foreclosures.

Although the low entry level is attractive to lots of potential landlords, the clever investors looking to invest in Property in Michigan for sale should research the area in which they are buying in, and the quality of tenant they want to attract.

Homes in close proximity to strong, vibrant downtown commercial locations with good infastructure and transportation links and suncesful businesses prove popular for both tenants and landlords.

Carefully selected houses in school catchment areas, near parks and with quality medical facilities, policing and fire departments are also important in securing good tenants on a long-term rental agreement.

As the city of Detroit makes international news coverage because of its revival of its motor industry and an influx of technical manufacturing jobs, property investment in urban and suburban areas has helped revive the city’s property market.

The investment from both national and overseas investors into investment properties has helped to regenerate foreclosed and previously uninhabitable properties, having a positive effect of the State’s property market.

Despite this growing trend in refurbished, buy-to-let properties, the suply ofleasable homes does not satisfy the current demand, with a leading property agent have suggested that over half a million high tech workers have moved to Detroit in search of work and will need good accommodation.

With US property foreclosures making upabout 1 in 5 properties sold in Michigan, and typically costing 34% less than homes which are not foreclosures according to RealtyTrac, distressed homes in affluent areas are the number one choice for investors.

By just selecting properties in affluent neighborhoods which satisfy the company’s criteria, Experience International offers investors Detroit properties which typically provide rental yields in excess of 20% with house prices starting at around $30,000, the houses are refurbished and pre-tenanted.

On selected properties, 50% finance is available and discounts are given to those who buy their properties with cash.

For additional information about the best way to invest in Property in Michigan for sale, contact Experience International on 0207 321 5858 or email enquiries@experience-international.co.uk.

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