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The American rental oppertunities

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  • The American rental oppertunities

    Hi everyone, I live in the UK and in less than two years will be inheriting a healthy sum of money. I've decided I want to be a property developer. Anyway I was looking on the internet and found loads of cheap houses in Detroit which cost less than 10k with nothing wrong with them. These properties are spacious with three or four bedrooms and claim to have tenants paying upto $600 a month which is like £450 a month. I did some calculations and I worked out I could buy up to 5 of these properties which are owned by the banks. The yield is 51% annual returns on some of them. Is this too good to be true and would this be a good investment from the other side of the Atlantic.

  • #2
    Re: The American rental oppertunities

    If it sounds too good to be true it probably is.

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    • #3
      Re: The American rental oppertunities

      I agree. Anyway just wanted to show you a link to telegraph.

      British buy-to-let investors cash in on repossessed US homes | Money | The Observer

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      • #4
        Re: The American rental oppertunities

        My friend, DO NOT INVEST IN DETROIT as a rental property. Nobody is renting there. And the reason it's so cheap is that nobody is living there either. HOWEVER there is value there over the long-term. The U.S. auto industry is coming back and those factories can be refitted. Also, with BATMAN V SUPERMAN filming there, it's likely that Detroit could be a future shooting capital. However, this will take some time, and if you want healthy rental properties it will take too long. Riverside county southeast of Los Angeles has a healthy rental market and a collapsing homeowner's market, so that's a great place to buy rental properties -- lots of renters year-around. I hear anything near Downtown LA is good too because Google may buy a huge plot of LA land for a new headquarters and will be renting like crazy for their tens of thousands of new employees.
        Has anyone bought from http://www.gardencentredirect.co.uk ?

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