Since 2008 the Detroit real estate market has shown a major decline in property value. This is a result of the automotive industry tanking. Many have said that it is over for the city. However, international real estate investors have sought after Detroit’s property goldmine. “You see one man’s trash is another man’s treasure”. And I wouldn’t just label this a piece of treasure, this is really a goldmine. International investors are not only purchasing groups of homes at a time. Some of them are even buying sight unseen because the cost is so low.
I personally have witnessed the massive amount of investors that come from all over the world; countries such as England, Switzerland, Dubai, and Australia have taken full advantage of the Detroit’s real estate market. The downward trend in real estate has effectively allowed almost anyone to become a real estate guru. Single family homes are priced as low as $5,000 (real estate has not been this low since the 1800′s) and international investors are purchasing 5-7 at a time. And before they finalize the closing, they are ready to purchase the next 5-7 properties.
I’ve come to the realization that international investors are not only smart they recognize the quality of their investment. Purchasing property is a tangible investment that pays for its self sooner than later. The ROI (return on investment) is at a least 13% which is nothing short of amazing. If you think about it, it becomes almost the safest way for investors to “See, Touch, & Feel” their money working for them. First time investors are also following in the footsteps of those who come from abroad. But this gravy train will not last forever. It has been predicted that the market will increase within the next 24 months. So if you have any reason why you should not invest in Detroit property, let this be override any fear that you may have. If not, you will be very disappointed in the future that you let this slip by.
The city of Detroit has been through a rough economic structure that has fallen but now it’s quietly rising because of the money that’s returning to the city. Technically investing in Detroit real estate is almost like giving back to the city. Investors are not only giving back, but they themselves are a part of history. A history that will not repeat itself. Again I urge for you to take advantage of this time. This will almost never happen again.