Detroit is the largest and most significant city in Michigan's economy. It lies on an international waterway and is home to the hemisphere's largest automotive factory (River Rouge Complex). America's largest trading terminal with Canada (America's largest trading partner) is located right here in Detroit. The state of Michigan generally and Detroit specifically is home to a throng of strong and world-wide recognizable companies driving employment. Every Real-Estate market and Real-Estate renter's markets specifically follow strong employment. The Detroit metro area is among the strongest in the Nation for employment and quality of life: with excellent employment opportunities, shopping, city services, historic buildings, and a business friendly environment. Detroit's unique housing/renting conditions coupled with its excellent regional economy make it an exceptional Real Estate investment with the best value in the United States.
Michigan added 6,000 new jobs in February, and its unemployment rate dipped another tenth of a percentage point to 4.8%, putting it below the national jobless rate for the second time in the past year. The national jobless rate for February stood at 4.9%. Michigan's jobless rate for February was the lowest since early 2001.Detroit Free-Press
Will Hubbard and Abby Leet celebrate outside their newly purchased home For the second month in row, the National Association of Realtors are citing Metro Detroit and Ann Arbor as two of the 10 hottest real estate markets in the country.Detroit News
The governor of Michigan, Rick Snyder, successfully filed municipal bankruptcy on July 18th, 2013 and swept Detroit's 18.5 Billion dollar debt clean with approval from the United State's Federal Government. The debt had accumulated under miss-managements from Detroit's former mayors which ended with the election of a new Mayor Mike Dugan on January 1st 2014. The 2008 financial crisis was the catalyst for the bankruptcy, and has ironically been the greatest event to happen to the city in living memory. Since the bankruptcy and new government management, Detroit's resilient economy has rebounded. Detroit is back open for business and the downtown area becoming a hub for large construction projects, new businesses, nightlife, and new residents.
Credited with turning around the local Detroit Government
Sucessfully filed for Detroit's Federal bankruptcy
Because of Detroit's massive size of Detroit and an glut of housing supply from Detroit's manufacturing era, there are many more housing investment options for rental units in Detroit compared with other parts of the country. Most of these houses are all brick (single and multi-family). Because of the price reduction after the 2008 financial crisis coupled with the rebound in the economy and subsequent rebounding rental demand, House prices in Detroit are - still at this time - much lower than the national average. Each unit can still yield between $650-$1000 per-month in rental revenue.
Detroit housing prices are one of the fastest growing in the nation. Although it is geographically a large market, many Detroit investors are out of state buyers, and international buyer's too are now cashing in on this high value oppurtunity. Prices are increasing every month.
Detroit #1Forbes on Detroit
All investments with Detroit Renaissance are final as quoted. Detroit Renaissance Investments covers all closing and transfer costs. The rent revenue is also quoted as after tax. There are no hidden costs, the numbers we present are the final result. Detroit Renaissance Investments will cover all repair and capital improvements on the investment for five years after the date of closing.