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FAQs
1. Is it a good time to invest in Michigan and Detroit?
It can never be a better time to invest into USA than right now.
Yes! There has never been a better time to invest in Detroit. With the worldwide financial crisis, the housing prices have never been so low. Although, you should not base your decision solely on the housing prices, we will determine an estimate of risk and return for all our investors so you know that you’re making the right decision by investing with Michigan Recon.
The Detroit area has seen vast changes in the past year alone. According to the Detroit Free Press “A housing market study by the Downtown Detroit Partnership found a 22% increase in demand for residential properties downtown in the last four years”(Priddle,1).The Detroit area is seeing constant growth, which makes it a great time to invest.
2. Are my funds secured?
Yes, your funds are secured by the title company/ broker until your purchase is fully cleared.
3. Do I own the property?
Once your purchase is fully cleared you will have full ownership of the property.
4. Who are the tenants?
The tenants are renters who value their rental home; in most cases, tenants have Housing Choice Vouchers, commonly known as section 8, or they are receiving some other 3rd party rental help from the government that guarantees rent payments from the state.
5. Are the tenants secured?
Tenants must sign a legally binding lease agreement for a minimum of 12 months.
6. What is the Exit Strategy?
If you were no longer interested in your investment here in the Detroit area, you may sell the property.
7. How do I proceed from here?
You may contact us at Michigan Recon via email or phone.
Email:
Click Here to send us an email
Phone: 248-481-3026
Sources
Priddle, Alisa. "For Investors and Travelers, It's a Whole New Detroit." Detroit Free Press Nov.-Dec. 2014: n. pag. Print.
http://www.freep.com/story/news/local/detroit-bankruptcy/2014/11/09/new-detroit-after-bankruptcy-ruling/18726395/
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