The USA housing market is providing investors from all over the globe with opportunities to buy single family and multi family homes at incredible prices with long term tenants in place. Buying a rental property and then collecting checks from the tenants might seem like an easy path to financial stability, the reality is a bit more challenging. Finding a home to lease out in an area where appreciation and rents are steadily rising (as you want to protect your investment) can be tough. So where should prospective real estate investors consider buying?
Global Investments Incorporated are the leading overseas company in the USA buy to let market and have sold in excess of 4000 homes in the past 6 years. We asked CEO Mike Moodie, where he thinks the HOT spot will be in 2018 for the overseas investor… Mike is of the opinion that they should look no further than Cleveland Ohio…..
The Midwestern metro area was named the best for single-family investment houses in the first quarter of 2017, according to HomeUnion (CA–based company that helps everyday investors find, buy, and manage their properties) https://www.homeunion.com
Single-family rentals in the metro appreciated 16.2% annually from the first quarter of last year to the first quarter of this year, according to the report. They also delivered an 13.5% return on investment for all-cash sales this year.
The best part about the Cleveland area is that single-family homes are still affordable. The median price of an investment home in the metro was $65,512, according to the report.
“ The Mid West and South East generate the highest returns “ Says CEO Moodie…. “ The rents are high and the prices of the homes are low compared to most of the country.”
“ Landlords can buy single-family homes for between $25,000 and $50,000 and rent them out for between $650 and $900 a month. These homes aren’t always in the A or B neighbourhoods, but they are usually in fairly good shape and we also provide excellent on the ground management and they provide a very steady ROI for our investors. “
Higher-priced investment homes in the suburbs range from about $75,000 to $90,000, he says. They typically fetch about $950 to $1,200 a month but Moodie believes that the lower end of the market is where investors can get the best return on there investment and the best potential gains in the future as the market grows.
“ As a company we have been incredibly successful with the Detroit market which at times can be challenging but we have learned where the best neighbourhoods are and also worked with first class management companies which is essential with this type of investment. We plan on doing the same in Cleveland and are excited about what the next 3-5 years can bring and expect our Cleveland sales to surpass Detroit in the coming 6 – 12 Months.. We have teamed up with REMAX for our supply of stock and work with two excellent on the ground management companies “ Mike Moodie – CEO . Global Investments Incorporated.
If you would like to learn more about the exciting opportunities that the Cleveland market place has to offer then please email Mike or any of his team at Global at invest@globalinvestmentsincorporated.com
