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Letitia Patterson-Investor Agent

Your Best Source for Metro Detroit Investment Property - 248-506-9426

By Letitia Patterson | Agent in Detroit, MI

Don't Be Fooled: Turn-key Income Producing Properties Don't Cost $49,000!

                                                                                                    Free List of Investment Homes  

Incredible Turn-key Properties are $25-29k: Metro Detroit Investors Should Be Earning $9600+/year!!


   We get tons of calls and emails from real estate investors who are paying $46,000- $49,000 USD for rental properties!  Arrgh? Akk!

   Don't be fooled. The average price for a really great single family turnkey investment property right now is $25-29,000.  If it's larger, more than 3 beds, Section 8, multi-family, Suburban, etc. the price will be slightly higher, but not by tens of thousands!

   Do your homework whenever someone is selling property. Get the sales comps for similar properties over the past 6 months, less than 1/2 mile away.  This standard gives you an excellent current snapshot of the market and helps you not to overpay for investments!

   (Pssst: anything under $25k that's income-producing is a steal right now!)

   Real Estate markets don't tend to shift wildly.  About every 6 months of so, they go up or down and a new price model for buying and selling is determined.

Here are some real examples of great available turn-key deals that make excellent investments:


                                           

18000 block of Pinehurst Detroit, MI 48221
Property Type: Single family home
Area: Detroit, MI 48221
Exterior: Brick
Bedrooms: 3 beds, 1249 sq. ft
Purchase Price: $25,000
Yearly Taxes: $2675

Monthly Rent: $800
Yearly Income: $9,600

Gross Rate of Return (ROI): 38%
Net Rate of Return (ROI after taxes): 28%
Neighborhood Grade of Homes: A to B+

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6000 block of London Detroit, MI 48221
Property Type: Single family home
Area: Detroit, MI 48221
Exterior: Brick
Bedrooms: 3 beds, 1478 sq ft.

Purchase Price: $25,000
Yearly Taxes: $2586

Monthly Rent: $800
Yearly Income: $9,600

Gross Rate of Return (ROI): 38%
Net Rate of Return (ROI after taxes): 28%
Neighborhood Grade of Homes: A to B+



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There are more than enough good, affordable investment homes in the Metro Detroit Area. Call us to begin your real estate investment portfolio today.


Good Luck and Happy Investing!



Letitia Patterson is a licensed Realtor in Michigan. She has sold hundreds of Investment Properties to Investors from 5 continents and loves helping them invest wisely for immediate cash-flow, as well as long-term gain.


To Request a Free List of Investment Homes, click here:

http://www.detroitcashdeals.com/forms/index.cfm?id=101395

Letitia N. Patterson
(la-tee-sha)

Community Choice Realty
Birmingham, MI

Office: 248-905-1531
Cell: 248 506-9426
Fax: 248 504-5656
Email: myrealestateteam1@gmail.com

 


























 

Comments

By realestateman,  Sat Dec 28 2013, 13:02
Great article! If you're looking to buy turn-key properties in Detroit, you can find some of the best deals through real estate auction websites ( such as http://realtybargain.net/page/buy-turn-key-properties-in-detroit.html ), which offer $1 starting bids on properties.

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