Property Details

Excellent Value for Money. This beautiful brick built 3 bedroom property has recently been fully refurbished. Currently let out for $750 per month, with long standing tenants it offers a 17% net yield

The property is in Excellent Condition. This home offers everything you need, nice size bedrooms, fabulous upgraded, eat in kitchen plus dining room. The home will accommodate your typical Detroit family. The property has a Neutral Décor throughout ad fortified with fitted security doors.

Internal size of 1,450sq. ft. with total lot size of 3,920 sq. ft.

The City of Detroit is by far the largest city in Michigan, and is the 11th largest city in the United States. Although not the state capital, Detroit has been a centre of economic activity in Michigan.

Detroit has had a profound impact on the world – from putting the world on wheels to the introducing of the Motown sound – Detroit has crafted American culture. Metro Detroit has always been a great place to work, live and visit. The region is currently undergoing a renaissance with new developments and attractions. Downtown Detroit’s development boom is unparalleled in the country.

Things are beginning to look up in Detroit, the Motor City. With most of the non-productive or destructive distractions resolved, Detroit's new government and public school system leaders are showing signs that their eyes are locked on the right prize for the city.

Detroit, finally may be seeing its worst times this year and into 2011, If Ford Motor Company's stock price movement is any indicator, Detroit's once failing automotive industry is turning toward profitability. Additionally, former auto workers, many of whom are Detroit residents, are being re-trained and employed in other expanding and emerging industries such as health care and alternative energy.

New businesses and jobs are slowly coming into Detroit as businesses take advantage of incentives, low startup costs, and controllable operational expenses within the City. Part of the slow movement is a result of political uncertainty in State government. This is a major election year for Michigan -- 2011 will see a new Governor, Secretary of State, Attorney General, almost an entirely new Senate, and about one-third new House Representatives.

As a highly inspirational factor, is the incredible enthusiasm metro-Detroit residents exhibit for Detroit; this includes not only Detroit residents, but many suburbanites. This translates into heightened consumer confidence in Detroit; which, will only serve to improve economic conditions in the City.

So, how is this all affecting real estate sales in Detroit? Until inventories are drastically reduced, there will continue to be a buyer's market for the near future; but if Detroit's February year-over-year (2009/2010) sales statistics for existing residential are any indication, as reported by the local multiple listing service, there is some optimism, even though the number of sales were down slightly:

• Average sold price increased by 13.73%
• Median sold price increased by 13.77%
• Average days on market increase only by 10 days
• Sales volume decreased by just 12.8%, as opposed to 37.82% for year-over-year 2008/2009.

The turnaround in Detroit still seems to be sometime down the road. Bottom line, if you are not invested in the Detroit property market during this year, getting in next year might be a lot costlier; and beyond next year may be far too expensive.

Reservation and Deposit. Reservation forms will be emailed and should be returned within 48 hours, with £525 payment for deposit.

This will be non-refundable unless the sale collapses through no fault of the buyer. This amount covers a $500 deposit (deducted from the final price) as well as the Home inspection fees.

Contracts are sent for signature and should be returned within 24 hours. 

Home Inspection (Survey) and Appraisal (Valuation) are instructed to licensed surveyors.

(We would advise at this stage that you consider opening up a US $ bank account. As part of our service, we can guide you on the best way to do this.)

RTI will introduce you to our team of licensed professionals in the US & UK who will assist you through the buying process. At this point you will be given details of Attorney, Management Company, Accountant etc.

Full property documentation is sent via email to the buyer. This includes the Home Inspection report and should any repairs be identified, they are reported to the seller to action before closing.  

Your attorney/title company will send you a scheduled date for closing (completion of your purchase). This will include a financial breakdown of the purchase and other documentation. This must be signed and returned to the attorney/title company. 

Payment of all closing costs have to be paid to the attorney by Wire Transfer. (You must ensure your attorney has the cleared funds on or before the actual closing date). This is EXTREMELY important and could result in penalty charges if funds are delayed.

You will receive title deeds within a few days of closing. After the deed is recorded at the county, a copy of the recorded deed will also be sent to you. 

You must now apply for your ITIN number. We will guide you with the best way to do this. 

(Hopefully by now you should also have had your US bank account opened)

At RTI we know the expectations of our investors and we ensure to meet it with the right investment opportunity. When you buy from RTI you will not only get a great cash flow from your investment but a great team of professionals looking after the transaction and your asset going forward.

RTI provide such great deals because we have the right contacts with Foreclosure Realtors, asset managers, and other sources not available to the average investor. Our aim is to find the best housing markets in the USA at prices that will generate a great rental cash flow to our investors making these the best deals available.

We work with the best property management companies around. We have screened through many property management companies and are now able to recommend property management companies with a great track record in the level of service they provide. We provide full contact details and manage the process of getting the property management company involved for each of our investors.

You can purchase your property in as little as 2 weeks. On average the whole process takes 3 weeks.

RTI always provide fully occupied properties meaning you start earning from your investment from the same day you purchase it. All the areas RTI operate in are high rental markets meaning void periods are very unlikely as tenants tend to remain in the property for the long term and could be replaced very quickly by the same management company who is looking after your property.

In the USA, property taxes are inherently high and will make the difference between you having a positive or negative cash flow investment property. All of the areas we work in and the properties that we source are carefully chosen after allowing for taxes to make sure your investment will have a positive cash flow. Property taxes can vary greatly from house to house even in the same neighbourhood so we make sure w do our homework. At RTI we always let you know your net rental income after taxes.

You can purchase a property in the same way as a US Citizen would. Property laws are similar to those of the UK and the whole process of purchasing is familiar to purchasing in a property in the UK.

No.  You can instead open a US  $ account in the UK and have your income paid into that. We have close relationships with FOREX companies that will not only save you money in transfer fees but will obtain much better rates of exchange than your bank when you decide to convert your earnings into sterling. We will advise you on the
best approach.

Some of our clients do, but very few. Our service is designed for the busy armchair investor and it is often not a viable solution for clients to visit because of time and the costs involved. Because so much of our work is designed around accommodating overseas investors we try to create a stree free environment for the client that is as seamless as possible, where clients can deal directly with their property manager.