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Miami World Center. Format. Some units are still available in pre-construction and reserve prices. This project granted an EB-5 visa. Please contact Leo Markov by phone: 130-8424500
- Market Review
Metro population:
4.3 m
Median Home Income:
26,000 dollars
Unemployment rate:
5.0%
Median House Price:
80,000 dollars
Median monthly rent:
942 dollars
The largest city in the state of Michigan, Detroit is probably known for the city where Henry Ford was a pioneer in the first production lines used to make cars. Although the City Engine has been hit hard by the recession, things are looking up in this real estate market, in part because of the following three factors:
- Two families of billionaires have pledged to roam the stormy city and seem to have succeeded. The downtown area has been completely revitalized and many of the dilapidated curves have been destroyed.
- Detroit is home to the big car companies “The Big 3” in the US and Canada (General Motors, Ford Motor and Chrysler), and the headquarters / corporate offices of 100 Fortune 500 companies, including: Penske Automotive, Quicken Loans, Kellogg, C 'Cozy Walmart.
- Still, prices are still particularly cheap in this area - you can still buy completely renovated Detroit prisons for around $ 80,000 (up to $ 50,000 in some cases).
Why invest here?
Detroit offers investors the option to purchase custodial properties for less than $ 64,000, which will rent at a median price of 1.18% of the monthly purchase price and also have a strong chance of stock growth.
- Trends
Overview
Detroit Trends and Statistics 2018-2019
In this section you will learn about the three leading factors that make Detroit one of the most powerful real estate markets today, including: affordable apartment prices, strong rental income from rent and the potential for capital growth. Check out Detroit's housing, population and employment trends on the tabs to learn more.
Sources of information:
- https://www.zillow.com/detroit-warren-dearborn-metro-mi_r394532/home-values/
- Real Affiliate Data of a Real Wealth Network
- https://factfinder.census.gov/
- https://www.deptofnumbers.com/employment/michigan/detroit/
Housing market trends
Detroit is cheaper than many other U.S. markets today.
- In January 2018 the median price of 3-bedroom homes in the Detroit metro area was $ 190,000. This is 6% lower than the $ 202,000 national average.
- However, in neighborhoods where members of the Wealth Real chain are investing the median price of 3-bedroom homes in January 2018 was only $ 79,962. This is 61% lower than the national average.
- This shows us that real estate in Detroit is cheaper than many other US markets today. This is especially true in the Detroit neighborhoods where members of the Wealth Real network invest.
It is possible to generate more monthly income from rent in Detroit than today in most cities in the US
- In January 2018, the median monthly rental of 3 bedrooms in Detroit was $ 1,405, which is 0.74% of the purchase price of $ 190,000. This is slightly higher than the national purchase and rent ratio of 0.71%.
- In neighborhoods in Detroit where members of the Wealth Real chain invest the median monthly rent for single-family homes with 3 bedrooms was $ 942 in January 2018. This is 1.18% of the purchase price, which is significantly higher than the national average.
- It shows us that Detroit offers investors a strong opportunity to generate rental income relative to a rent purchase significantly higher than the national average.
Detroit's home values quickly appreciated.
- In January 2012 the median price of 3-bedroom homes in Detroit was $ 104,000. This means that in the last six years (January 2012 to January 2018), homes with 3 bedrooms in Detroit have been rated by a whopping 68%. At that time, 3-bedroom homes grew by only 41% nationwide.
Detroit's median monthly rent has risen steadily over the past six years.
- Between January 2012 and January 2018 the average rent for 3-bedroom homes in Detroit rose by 18%, which is also above the national average of 17% during this period.
- This shows us that there is a strong opportunity for stock growth and increased revenue potential over time in the Detroit area.
Trends in the population
Detroit's population is growing very slowly.
- Since 2010 the Detroit population has grown by only 0.50%. During that period the national population grew by 5.29%.
- Despite very slow growth, the Metro in Detroit still surpasses similar markets in attracting thousands of educated years; This is probably due to a number of research universities in the area, including Wayne University.
- Detroit also has several billionaires on its side, including Dan Gilbert (CEO of Quick Loans) and Mike Ilyich (owner of the small Caesar Pizza chain, Detroit Red Wings and Detroit Tigers) who have pledged more than $ 4 billion to help the city. CPR efforts.
- All this attention from the thousands of billionaires and billionaires is a good sign that future growth in Detroit is expected.
employment
Detroit creates jobs, but not as many as other markets.
- In the past year, the number of jobs in Detroit has increased by 0.76%. This is lower than the annual growth rate in the US of 1.73%.
- Despite very slow growth, the Metro in Detroit still surpasses similar markets in attracting educated millennials. This is likely due to a number of research universities in the area, including Wayne State University.
Conclusions
Detroit is very lucrative
- In the Detroit neighborhoods where members of the Wealth Real chain are investing the median price of 3-bedroom homes in January 2018 was only $ 79,962. This is 61% lower than the national average.
- This shows us that real estate in Detroit is cheaper than many other US markets today. This is especially true in the Detroit neighborhoods where members of the Wealth Real network invest.
Detroit has strong opportunities from rental income
- Neighborhoods in Detroit where members of the Wealth Real chain invest the median monthly rent for single-family homes with 3 bedrooms was $ 942 in January 2018. This is 1.18% of the purchase price, which is significantly higher than the national average.
- It shows us that Detroit offers investors a strong opportunity to generate rental income relative to a rent purchase significantly higher than the national average.
Detroit appreciates quickly
- For the past six years (January 2012 to January 2018), Detroit 3-bedroom homes have received a whopping 68% rating. At that time, 3-bedroom homes grew by only 41% nationwide.
- During that time the average rent for 3-bedroom homes in Detroit rose by 18%, which is also above the national average of 17% during that period.
- This shows us that there is a strong opportunity for stock growth and increased revenue potential over time in the Detroit area.
Millionaires and billionaires love Detroit
- Despite a very slow population and overall job growth, Detroit has attracted more educated millennials than similar cities across the state.
- In addition, when investors like Dan Gilbert invest billions in rebuilding and expanding companies, it looks like future growth in Detroit may emerge.
- Large employers
- News
- "City No. 1 to which the farthest salary arrives" - Forbes
- "# 8 Best City to Buy Property for Rent" - Internal businessman
- "Job Growth in Detroit" - Bureau of Labor Statistics
- "5 Things to Know About Detroit" - The Great Circus
- Learning resources
Real estate news from Israel
Dear friends, introduce yourself here in response to our real estate community. Please comment in comments ...
Dear friends - introduce yourself here in response to our real estate community. Please write in the comments here business cards, specialties and who is it who in less than a week thousands have joined and we
- Property teams
Known primarily for its annual balloon fiesta and as part of AMC's performance show "Breaking Bad," Albuquerque, New Mexico, is a metropolitan area rich in culture and naturally beautiful. Albuquerque is also one of the largest cities in the southwest of the city, with a diverse population and some of the leading high-tech research enterprises in the country, including National Sandia Laboratories, Intel and the University of New Mexico. At the same time, its cultural traditions continue to be an integral part of daily life in the city. With one foot in the past, one foot in the present and two eyes for the future, Albuquerque is a fascinating place to visit and an even better place to call home. (Source: (https://www.visitalbuquerque.org/about-abq/history/)
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Lior Lustig
Lior Lustig CEO - Overseas Investors Forum
- support@forumnadlanusa.com
- 072 - 257-7374
- (978) 600-8229
Lior Lustig is an experienced real estate investor who has been active in the field in Israel and the United States since 2007. Lior has extensive experience in purchasing and managing single and multi-family properties.
Lior currently manages the Real Estate Investors Forum, which owns a brand and interest in the real estate field, the Facebook group and the "Real Estate Forum in the United States" website. Lior is versatile in a wide variety of investment markets in the United States and provides solutions to investors through the company.