Home Buying in Detroit>Question Details

jack-moi, Home Buyer in Detroit, MI

Hi, I'm from france and I want to buy a house in Detroit. I want to know the process to do it.

Asked by jack-moi, Detroit, MI Fri Oct 4, 2013

Help the community by answering this question:

Answers

6
Rebecca’s answer
Hi, I just saw your email. Please take a look at our website at http://www.uspropertyportfolio.com for more information. We offer homes from $24k in good blocks, that are already tenanted and renovated. Average net yields are currently 18.78% NET! Homes include one year's free insurance and home warranty as well as all your closing costs. Je parle un peu de francais (de l'ecole!)! Nous sommes aussi a Detroit in Novembre (15/16), si vous voulez visiter et voir les maisons! Regards, Rebecca.
0 votes Thank Flag Link Thu Oct 17, 2013
You would probably need a Foreign National Loan that has several requirement. This is loan is directed towards non-US residences that would like a home loan. The minimum down payment allowed is usually around 20%, but this can go up to 40% if you do not have a work visa or green card to provide to the lender. Also, it would be better if you can provide foreign tax returns along with bank statements. These are just some things to have ready if you are considering investing in the United States. I recommend to speak with a lender like myself to help you learn more about what you need. There are lenders like myself that would be happy to speak with you. Well I hope this helps! If you have any other questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Fri Feb 14, 2014
Being an international investor, you most have someone that is knowledgable about all aspects of any real estate market including international investment laws and taxes. If you are purchasing this property as an investment and have plans of turning it into a rental, you will need someone to advise you on the rental rates for the area. You need to be informed about all rental aspect of a property including landlord-tenant law. You also need to think about who will represent and market your property the best and provide you with the most qualified tenant. Acquisition is easy in Detroit, however you will need someone inform you on the day to day status of your property.

Great Lakes Property and Investments not only has licensed realtors that know the market, but we are a property management company. We assist are clients starting with acquisition all the way to rent collection.

Great Lakes Property and Investments,INC
10709 Morang Drive
Detroit, MI 48224
Phone:(313) 647-0930
http://www.GreatLakesRentalProperties.com
0 votes Thank Flag Link Mon Oct 7, 2013
First check and find a realtor that is license in Michigan and know about Detroit. I am a license realtor in Michigan and live and work in Detroit. Call or email me to find the right properties.
A Real Detroit Realtor!
Delores Goodson 313-575-2336
goodsonrealtor@yahoo.com
Front Page Realty
2921 E Jefferson
Detroit, MI 48207
0 votes Thank Flag Link Sun Oct 6, 2013
Hi Jack-Moi,

My name is Ian Watts and I work with investors all over the world. Below, I have included a link to my free ebook written for international investors. It will provide the specific steps for you and help you avoid the pitfalls of purchasing property here.

You will probably find that the process is relatively simple if you find the right local partner with experience. Just yesterday I sold a home to a client in Thailand and she was very excited with how smooth I was able to make things for her.

Please feel free to call or email me with any questions. But, PLEASE do take the time to read the book, as it will really help you avoid being taken advantage of.

Ebook link: http://db.tt/WFKIvjkd

Hopefully, this helps!

Ian Watts - Your Detroit Real Estate Investment Partner
Pierson and Company
Mobile: 313.617.6723
Toll Free: 800.374.5470
Office: 313.744.2003
Fax: 313.748.1017
Skype: piersonandcompany 
iwatts@piersonandcompany.com
piersonandcompany.blogspot.com
http://www.piersonandcompany.com
0 votes Thank Flag Link Sat Oct 5, 2013
Hello,

Send me an email directly and I can help you set your self up to have the ability to purchase a home here in Detroit.

My contact information is listed below.

Thank you,

HAIG
(248) 379-6547
realtorhaig@aol.com
0 votes Thank Flag Link Fri Oct 4, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer