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3 Bedroom Detached House For Sale - Biltmore
Date & Time Listed: 2012-08-15 17:59:06 (GMT)
Single Family Residential
Lot Size: 4,051
Built in 1942
Parking: Detached Garage and Off Street
Parking Spaces: 2
Exterior Walls: Brick
Why Invest In Detroit
Located in the upper Eastern region of the United States, Detroit is now home to over 5.4 million people. Detroit is the largest city in the state of Michigan and has been massively affected by the economic downturn, which has led to an increased number of property repossessions and foreclosures.
This has resulted in a massive shortage of affordable housing in the metropolitan area of Detroit. There is currently a waiting list of over 9,000 people.
All properties available are 3 to 6 bedroom detached houses and are located in stable working-class communities.
Properties can be acquired at very low prices ($40,000), while rental returns remain very high. Combine this with an extremely high rental demand, backed by the US government; it's clear to see why Detroit is the right time investors.
US Government-Backed Rental Scheme
Every property is fully renovated detached houses. This goal is aimed at converting foreclosed properties into clean, safe homes to provide working families with a higher quality of housing.
Monthly rental income is paid to the investor through the HUD's Section 8 Housing Choice Voucher Program (HCV). The HCV program offers tenants monthly payment contributions (usually 100% of their monthly rent) which are paid directly to the landlord.
If the tenant's HCV contribution is less than 100%, your appointed property management agent will collect the tenant's rent for you and pay the outstanding monies directly to you.
The HCV program has was introduced in 1937 with the aim of ensuring that tenants get quality, maintained and affordable homes and landlords get a quality tenant who wants to live in their property.
Tenants are not just placed, they get to choose their home, and it is their choice. This is a win | win for all parties, the tenant by receiving quality accommodation and the landlord by having their property cared for.
Number of Bedrooms: 3
Number of Bathrooms: 1
Price: 45,660.00 USD
Basement, Garage, Garden, Renovated, Section 8 Tenants
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