Challenging all deniers..Detroit Economy & Market are ON FIRE!!!
There are only a few remaining markets where real estate investors can get double-digit returns on rental property. There are even fewer markets where you can get high cash flow AND high appreciation. Thankfully, we know where they are. Detroit has been highly lucrative for us, our clients and most of whom have invested in its rebirth during the past 5 years.
Right now Detroit offers investors the opportunity to purchase beautiful turnkey rental properties for as little as $45,000 in clean safe B neighborhoods, that will rent for $925 a month, see on average 21% annual appreciation and also have a strong chance for equity growth. Where else can you find that in America right now? Or how about a fully rehabbed 8 unit that’s pulling in $6000 Rent for $290,000?. Or let’s say a 4plex all in for $230,000 yielding $3600 a month. There’s only one place to get these kind of deals in a high performance big city and that’s Motor City! The automobile industry is seeing a boom like it hasn’t experienced since the sixties or ever for that matter. But, don’t be fooled into thinking Detroit is simply a ‘one trick pony’. No Sir! No Mam! Not anymore, Detroits tech, banking, government, healthcare, hotel and hospitality sectors are also beginning to bloom.
Let’s face it, no other market in the U.S. offers the same “bang for your buck.” Your investment dollar goes further in Detroit, with price points significantly lower than other popular investment markets like Memphis, Atlanta, Las Vegas, Indianapolis, Cleveland, Kansas and cities in Florida and Texas and Arizona.
And let’s not forget that laws favor the landlord in Detroit and not only can you use Section 8 tenants in B neighborhoods but you can increase rent to market on government tenants.
PROOF IS IN THE PUDDING.
A few 2019 Notable Quotable’s for Detroit lovers, doubters, investors and first time buyers.
• #1 City in U.S for most favorable rent to value ratio for homebuyers. -”Smartasset.com 2019
• "#1 City Where Paycheck Goes the Furthest." -Forbes 2019
•“#2 City in the Midwest for Start Up Funding.” -Forbes 2019
• “Detroit Commercial property values rise 35% from 2017 to 2018.”
-CrainsDetroit.com 2019
•Detroit is one of the best hidden gem cities according to Expedia”
-Metrotimes.com 2019
•“More millennials are moving to metro Detroit” -Metrotimes.com 2019
•”Detroit has seen tremendous growth over the past five years.”
-State of the region 2018-2019
•“The multifamily market in Detroit remains hot, too.”
-Rejournals.com 2019
•Metro Detroit’s tech job growth was nearly 2x the national average in recent years.” -ITworld.com 2019
•“Detroit has the highest concentration of engineers in the country.”
-Freep.com 2019
•“Most undervalued Markets: Detroit, Michigan.”
-Forbes 2019
•”Yet six years later, the city is indisputably on the rebound.
-Washington Post Aug 3rd
•”Detroit is indisputably on the rebound. The downtown, once a ghost town, now hums late into the night. The sound of jackhammers fills the air by day as new glass-paneled buildings rise...Now everything’s happening. Guys in hard hats. Scaffolding everywhere. It’s like what you see in Manhattan.” Washington Post Aug 3 2019
•Even amid an overall leveling off of U.S. auto sales, a growing number of high-paying jobs are being spawned in metro Detroit by carmakers and their suppliers, including the greatest amount of new investment in automotive manufacturing capacity in Detroit proper in at least a generation.” -FORBES Aug 1 2019
•“Six years after Detroit filed for the largest municipal bankruptcy in US history, the Motor City is roaring back to life.” -CNN July 29 2019
•“Coyote logistics is another excellent addition to the burgeoning Detroit tech community, which already is home to innovative local and national brands including Microsoft, LinkedIn, Twitter, WeWork, Snapchat, Amazon, StockX, Google, Autobooks and more." -Bill Emerson, CEO of Bedrock 2019
•“Detroit's rebound is one of the most underrated stories in the nation," said veteran Michigan Democratic consultant Joe DiSano, who grew up outside Detroit in Macomb County, a traditional bellwether that backed Obama before flipping to Trump.” -CNN July 29 2019
•"There's an amazing pride among Michiganders in the resurgence of Detroit because as Detroit goes, so goes the state.” -CNN Aug 1 2019
•“Detroit to invest $100 million to improve 100 miles of roads.... This year’s infrastructure improvement program is the City of Detroit’s most expansive in recent history.”-WxyzABCDetroit May 2019
•”The city of Detroit plans to put $500 million into its water and sewer systems, in what officials call the city’s first large-scale upgrade of its water infrastructure since 1930.” -Michiganradio.org June 2019
•“What’s important to note is that Detroit is building a workforce of the future.”
-lansingstatejournal.com 2019
•“City of Detroit saw a 42.9 percent year-over-year jump in median sales prices.” -CrainsDetroit.com 2019
•”Chrysler invests 4.5 Billion + 6500 New Jobs!..First new auto plant in Detroit in almost 3 decades” -CBS.com 2019
•”Fiat Chrysler Automobiles' $4.5 billion investment in five Detroit-area manufacturing operations amounts to "the biggest automotive assembly plant deal in the United States in a decade." -Autonews.com 2019
•“Experts say Detroit is nearing the end of an exodus tracing back to 1950.” -DetroitNews.com 2019
•“Demand is steady in Detroit, bolstered by household formation and job gains. Drawn by the metro’s low entry costs and attractive yields, investors are targeting assets with a value-add component.”
-Multifamilynews.com 2019
•“Detroit Officials: 90% of neighborhoods saw increased home values in 2018.”-Detroitnews.com 2019
•“Detroit among the top 5 hottest markets in the country.” -Realtor.com
•“Detroit is attracting investors with its low entry costs and high yields.”—multifamilynews.com 2019
•”Detroit has the highest rent increases in U.S. 2014-2017” Detroitcurbed.com 2019
•“5.2 Billion in Construction RIGHT NOW” google.com 2019
•“In Detroit, more people rent homes than own them.” Freep.com 2019
•“Detroit Surrounding neighborhood prices are up 48.6% from last year.” -Fox2detroit.com 2019
•“The Motor City is firmly at the front of the auto industry’s next revolution to develop and make money on self-driving, autonomous cars and trucks.” -Detroitdriven.us 2019
•“Over the last five years, the Detroit real estate market has been one of the fastest growing real estate markets in the U.S. Here investors can get a better cash flow return and enjoy awesome capital appreciation compared to other cities” -Strategy 2019
•”Yet six years later, the city is indisputably on the rebound. The downtown, once a ghost town, now hums late into the night. The sound of jackhammers fills the air by day as new glass-paneled buildings rise...Now everything’s happening. Guys in hard hats. Scaffolding everywhere. It’s like what you see in Manhattan.”
-Washington Post Aug 3 2019
•“Detroit is drawing global attention because we invested in parks, plazas, streetscapes, and public gathering places needed to attract new workers and people, including more than 1,700 employees at Quicken Loans and Bedrock,...It was a proven strategy for urban vibrancy, and can become the game-changer for asset value and the real estate market.”
—George Roberts, director of public spaces for Quicken Loans 2019