For years investors have been asking the age old question “where’s the next big thing”. This has never been more true when it comes to real estate investment in the US.
Fuelled by the global financial crisis, USA property has been in demand for a number of years due to the low purchase prices, high rental yields and potential for capital growth. Cities that were once the engine room of America, such as Detroit, Chicago and Toledo have been the backbone of the seemingly unstoppable buy to let boom for overseas investors.
Companies like Global Investments Incorporated have always had their finger on the pulse. They were there at the very start of the Detroit property boom and as a result have built a business that is respected and valued by clients and the competition alike. Exclusive properties, fantastic customer service and attention to detail is what defines a market leader from the rest but is that enough in today’s market?
We asked Global’s Group Sales Director, Jonathan May for his view. “You’re absolutely right that all those things matter and collectively they are the foundation of our business, but once ahead of the game you need to stay ahead” remarked Jonathan. “This means we are constantly looking at new markets, not necessarily to replace the ones that we already dominate but to give our clients, both new and existing, more choice, value and ultimately income”
Intrigued by the mention of new markets we were keen for Jonathan to elaborate as to why and where. “Without doubt 2016 has been a record breaking year for Global. We have sold more homes in Detroit than any other company. We have held our first private exhibitions in London and Dubai, and we have laid plans to ensure further growth in the New Year and beyond” he explained. “We are set to have representation in more regions next year and we are pleased to announce the first of which will be Buffalo, NY”.
“We have signed an exclusive agreement with one of Buffalo’s biggest building contractors, who will also manage the fully rehabbed and tenanted properties post sale.” announced Jonathan. “With prices from $25,000 and returns up to 25% we definitely see Buffalo as the next big growth area.”
Buffalo is the second largest city in New York State only beaten by the Big Apple itself! Like Detroit and Toledo it was once a heavy industry city. Steel works and automobile manufacturing once employed the majority of the city’s population. As in the other “rust belt” cities these industries gradually declined until they were virtually non-existent. Detroit and Toledo weathered the storm until the great factories of Ford, GM and Chrysler powered back in to life. Buffalo however, did not sit around and wait, we asked Jonathan for his take on how Buffalo is taking a different route to recovery.
“Rather than wait for industry to return, Buffalo no longer relies on a single industry or sector. It has taken a diversified approach and now is the home to industrial, light manufacturing, technology and service-oriented private sector companies that will ensure it has economic growth and stability well into the 21st century” said Jonathan.
He is right. Buffalo is now a centre for medical and life sciences and has some of the industries’ biggest names located in the city, MT&T a large regional bank has its headquarters here, as have Rich Products, one of the world’s largest family-owned food manufacturers, Canadian brewer Labatt has its US headquarters in Buffalo, to name a few. Buffalo’s economy has seen significant improvement and growth since 2010, largely down to money from New York state governor, Andrew Cuomo. The former Secretary of Housing and Urban Development, has pledged what has become known as the “Buffalo Billion” it has brought new construction, increased economic development, and hundreds of new jobs to the area. This year the Buffalo area economy was valued at $54.9 Billion.
Along with one of the biggest property investors in the US Dan Gilbert, Global Investments Incorporated have seen a window of opportunity in the once forgotten city.
Buffalo investment properties offer one of the most steadiest property markets in the USA offering investors incredible low priced buy to let property with high returns. For further information or to see the latest Buffalo Investment properties that Global Investments has to offer please contact Jonathan directly at [email protected]
