Latest News

Demand and prices surge in Cleveland for turnkey investments

Cleveland Ohio is located on the southern shore of Lake Erie, about 60 miles west of the Pennsylvania border. Downtown Cleveland has experienced a renaissance over the past 5-10 years with an estimated 25 Billion in development completed or planned since 2010. Occupancy rates are at an astonishing 98% and home sales are up 12% year after year making this market a dream for the overseas or domestic investor. Great house prices and fantastic cash on cash returns with a huge potential for growth given the huge investment getting pumped into the city via companies like Amazon, Ford and individual investment from the likes of Dan Gilbert who helped rebuild Detroit. The big question now is how long can prices availability and returns like this last ? Unfortunately for potential or current investors looking at investing in Cleveland it looks like the clock is ticking. Prices are on the rise and the supply of these types of turnkey homes is down and finding good tenanted or renovated properties in good neighbourhoods is getting tougher. As a company Global Investments Incorporated have been selling in Cleveland for the past 3 years and have sold over 1000 houses in the city. Good Single Family tenanted properties have been sold in and around the 35-45k mark and for a good Duplex an investor would look to pay around the 50-55k mark. Due to huge Demand and a lack of supply the prices are slowly creeping up. “ We have been expecting this for some time now. Very similar to what happened in Detroit 3-4 years ago. Cleveland is still an incredible opportunity for both the overseas and the domestic buyer but any client looking at getting involved needs to look at higher prices for these types of houses. The prices cant stay the same with such demand, lack of supply and huge investment into the city. These price increases were inevitable. I still think as a company we have another 12 months in the city before prices get too high. I think for a good, well located single family home any client should be looking at spending around $45k to $55k and for a well located Duplex they will need to look at between $60k and $80k. “ Mike Moodie CEO Global Investments Incorporated Although prices are on the rise Cleveland Ohio still offers an incredible opportunity for any cash buyer to get well priced tenanted houses with great cash on cash returns and good appreciation over the coming 5-10 years. If you would like more information on our Cleveland Ohio Investments or have any general questions on the US market place and what opportunities are available please contact any of the team at Global at [email protected]

Growth in the Suburbs

USA Real Estate in the suburbs is real and growing, as coronavirus changes the way people live. As the real estate market began to recover in May, home searches in suburban zip codes jumped 13%, according to realtor.com, one of the largest real estate listing websites. That doubled the pace of growth in urban areas. More than half of the nation’s 100 largest metropolitan areas are seeing increased interest in the suburbs. If millennials once piled into the cities, fuelling downtown renewal and growth, apparently they are now piling out. The stay-at-home orders brought on by coronavirus have more potential homebuyers looking for properties in the suburbs. Millennials are now the largest cohort of buyers. While homes are spending more time on the market overall, due to complications surrounding closings, both suburban and rural markets are not experiencing that lag time as much, due to very strong demand. “This migration to the suburbs is not a new trend, but it has become more pronounced this spring,” said Javier Vivas, realtor.com director of economic research. “After several months of shelter-in-place orders, the desire to have more space and the potential for more people to work remotely are likely two of the factors contributing to the popularity of the burbs.” More than half of the nation’s 100 largest metropolitan areas are seeing increased interest in the suburbs. Real estate agents in the New York City area have reported strong demand in the surrounding suburbs, as contracts on Manhattan apartments plunged 80% annually in May, according to Jonathan Miller of real estate appraisal firm Miller Samuel. This new flight to the suburbs is clearly benefiting the nation’s homebuilders, who have seen a much quicker recovery than they ever expected. “There’s no question that there are people who are fleeing the cities. There’s no question that the second home has been a place of refuge. There’s no question people are rethinking whether they want to be in high rise rentals with common spaces as amenities vs. having a home of their own with a backyard,” said Stuart Miller, chairman and former CEO of Miami-based Lennar. Nearly a third of Americans are considering moving to less densely populated areas in the wake of the pandemic, according to new data from Harris Poll. That may foreshadow a shift that would have a major impact on residential real estate sales and home prices. Demand for homes, say brokers, is fuelled not only by fears that coronavirus infections in densely populated urban areas could rise again next winter, but also by fundamental shifts in demand from in-office to remote workers, “First off, it’s the virus, and people are just feeling done with small apartments. Then came the protests,”. People are saying “they just can’t handle the city right now. They’re saying they want a quiet yard and most of all a home office.” This change in perspective may be bad news for large Cities but it is certainly good news for overseas investors purchasing buy to let homes in the suburbs just outside of the City. Cleveland is currently Global Investments’ most popular location for sales and enquiries. Now is the time to get involved before prices increase. Cuyahoga County records state home prices are up for 7th straight year ! As an example, The median single-family home price in Euclid had dipped to $35,000 in 2011 before the steady recovery began, reaching $66,000 in 2018 and finally to $74,950 last year. Contact Global Investments today. visit www.globalinvestmentsincorporated.com or email [email protected]

121 Larchmere Cleveland

CLEVELAND, Ohio — Officials and developers on Tuesday broke ground on a $23 million, four-story apartment building in Cleveland’s Larchmere neighbourhood set to open next spring. The building, dubbed 121 Larchmere, will be perched at the corner of Larchmere Boulevard and East 121st Street at the western end of the East Side commercial strip, known for its array of antique shops and restaurants. The plans include 88 market-rate studio and one-bedroom apartments and the hope is to attract more people to an area of the city that continues to develop. The building will have more than 64,000 square feet for apartments and about 6,300 square feet for a first-floor office. The project is developed by First Interstate Properties of Lyndhurst, which also built Legacy Village, Steelyard Commons and the One University Circle high-rise apartment building. An affiliate of First Interstate bought the property in March for $950,000, Cuyahoga County property records show. The land was previously home to a Pick n Pay supermarket and later housed the Life Skills Center of Northeast Ohio charter school. The company on Tuesday held a “virtual groundbreaking” for the project because of the coronavirus pandemic. Still, about two dozen people were present at the site to commemorate the project, including many from the company and City Councilman Blaine Griffin. The rest watched via livestream on YouTube. “We hope that 121 Larchmere will really serve to enhance the neighbourhood, bring residents to the neighbourhood, bring new business to the neighbourhood and continue the renaissance that’s happening in this neighbourhood,” First Interstate President Mitchell Schneider said at the groundbreaking. Development associate Tony Smith said Wednesday that the company already has a tenant for the first-floor office space but declined to name it. City Council in March approved tax incentives for the project, which will give First Interstate 30 years of tax-increment financing, a mechanism that allows revenue from future taxes on the property to be used to pay for its improvements. Griffin said at the groundbreaking that there was a proposal to put a dollar store on the location. Slowing the proliferation of such stores has been an interest of the councilman, and he said residents intervened and paved the way for the new apartment building. 121 Larchmerer is very close to Buckeye Shaker, Buckeye Shaker and the surrounding neighbourhoods like Woodland Hills and Mt Pleasant are one of the most popular areas in which Global Investments have sold many properties over the years. Buckeye Shaker is only minutes from the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland and is full of restaurants, bars, boutiques and of course the Cinema. It is good to see continued new property developments in this area which continues to attract investors and business, great for capital appreciation. If you would like to know which properties Global Investments have in this location for sale today please visit www.globalinvestmentsincorporated.com or email [email protected]

Manchester the UK’s fastest growing economy

Manchester is the capital of the North and the housing market is booming, according to information from Hometrack, property values in Manchester are growing at twice the rate they are in London. Manchester has been the focus of the UK Government’s plans to turn the North of England into a powerhouse, helping the area to compete with London and the South.Manchester is part way through a multi-billion pound regeneration program, improving all areas of the city centre, airport, and infrastructure, including the iconic Spinningfields and other areas like Salford and the Northern Quarter.There is investment taking place all over the city and one of the biggest project was the new Media City, to date £650m has been spent on the new Media City which is a 200 acre business hub for media, digital and creative. The BBC’s move to Salford’s Media City was huge for the economy, Granada and ITV also relocated to Media City making the area the UK’s new media hub.Over 70% of the FTSE 100 companies now have a presence in Manchester, and 50 international banks, with an estimated GDV of over £50bn are located in the city. Last year it was announced that Manchester International Airport, which is already the UK’s largest airport outside of London, is to receive a £1bn investment. Greater Manchester’s population now stands at 2.5 million and increasing daily. Between 2002 and 2015 the population has increased by a massive 149%, making it the fastest growing city in the UK. Due to the growing career opportunities available in Manchester, the city is becoming an increasingly popular choice for young professionals. For this reason, the rental market is soaring, and landlords are finding that potential yields are a lot higher than those offered in London and other UK cities.Greater Manchester is home to one of the largest student communities in Europe boasting around 100,000 students between the local universities. This huge population of students just goes to show that Manchester is a first-class destination for higher education.As you can see the city is booming but Manchester does have a big supply issue, partly due to nothing being built between 2008-2012 in the city centre, but also due to the ever-growing demand for city centre properties. It is anticipated that by 2025 the population of Manchester City Centre will increase by a further 125,000.The most demanded properties in Manchester are city centre apartments which are great for renting. Premium new apartment developments in the popular areas like Deansgate, Piccadilly, Ancoats, Victoria, Salford always sell quickly due to their ideal location.Manchester really does offer something to all residents and visitors. From walks in the countryside to all-night dancing and everything in between, Manchester is a perfect lifestyle city. In fact, it was named as the most desirable UK city in which to live in the 2015 Global Liveability Ranking and lets not forget its home to two of the worlds best football teams.Global Investments are proud to announce the launch of Regent Plaza Manchester, a brand development in the heart of the city with 525 units, all of the units are larger than average city apartments. This development has many exciting features including a private resident gym, 24 hour reception and concierge service, prices start from only £157,000.If you would like more information on this new fantastic development please email [email protected]

Why invest in Cleveland

EMPLOYMENT Cleveland is home to many Fortune 500 companies and established organisations that offer secure employment opportunities for its residents. From Cleveland Clinic and University Hospitals to Amazon, KeyBank, Goodyear, Sherwin-Williams and many more, these stable employers provide jobs for much of the greater Cleveland area, as well as ensuring regular new arrivals to the region. CULTURE & GREEN SPACES A mid-size city, Cleveland offers a thriving hub of activities for its residents enjoyment. Landmark cultural institutions like the Cleveland Orchestra, thriving restaurant and nightlife scenes sit along side vast networks of public parks, including national parkland, that offer beaches, biking/hiking trails, playgrounds and more. These community amenities are enjoyed by Clevelanders all year long. TRANSPORTATION The residents of Cleveland and the surrounding areas have the benefit of a large and accessible network of highways. The main north-south and east-west arteries link with smaller connections in strategic areas, making it a breeze for residents to travel around the region. This system keeps traffic levels lower, minimising commute times and stand still rush hours. Cleveland is also supported by bus routes and bike lanes in key areas to make commuting without a car possible. LOCAL DEVELOPMENT Both in Cleveland itself and the surrounding areas, a strong emphasis is placed on local development. City governments and residents alike keep an eye on the future of the area by nurturing new businesses, revitalising unused areas and investing in current infrastructure. Projects such as renovating a lake front park in Cleveland and a new waterfront development in the suburb of Euclid showcase the ideals of the region and present the enormous increase of in value for anyone investing in local real estate. Global Investments has been helping investors grow their rental portfolios in Cleveland for years. We have a thorough understanding of Cleveland neighbourhoods and suburbs and what kind of investments they’re best suited for. And we have the experience to identify great opportunities for our clients. Want to learn more about how we can help build your portfolio?

Investors flock to Milwaukee

“ THE HOP “ Milwaukee is another great hub for investors — Milwaukee is a great place to invest in rental properties. Millennials make up over 80% of rental property tenants in Milwaukee with the median rent price at $830, slightly higher than the overall median rent price of the state. Millennials are flocking to the city attracted by the job opportunities, the craft brew scene, burgeoning downtown area, and affordable cost of living. And with slightly higher rental prices, you’ll be able to get a good return on your investment while still attracting plenty of renters with the more affordable rate. There are many up and coming projects in Milwaukee that are fuelling the attraction to this fine city. Large infrastructure changes bring new business, jobs and investment which subsequently drives real estate investment in and around the city. Global Investments will be keeping you up to date on current and up and coming projects. One such investment is “ The Hop “ is a streetcar line operating in downtown Milwaukee and nearby neighbourhoods in Wisconsin, US. The $128.1m project was constructed in phases. It connects 80,000 downtown workers, 25,000 downtown residents and millions of visitors, while establishing a fixed-rail transit operating system in the city. Approval for the project was obtained in February 2015 from the City of Milwaukee Common Council. Construction commenced in 2016 and has now completed its first year of service in 2019. “When we build The Milwaukee Streetcar, we are supporting or creating jobs for city residents; we are constructing functional and attractive infrastructure that promotes business growth; and, we are setting the stage for additional private sector investment and economic activity.”– Tom Barrett, Milwaukee Mayor Home to several major corporations, the Milwaukee region ranks 5th among United States cities on a per-capita basis for Fortune 500® headquarters. Rich in culture and arts, the city also boasts renowned educational institutions and a rapidly evolving built environment. Aside from its distinguished assets, Milwaukee will now join other peer cities in offering a fixed-rail transit network. The world-class system will set the tone for future developments and position the city as a progressive urban centre that welcomes new investment, businesses and talent.In addition to sending a message of growth and prosperity,The Milwaukee Streetcar will conveniently connect residents, workers and downtown Milwaukee’s 6+ million annual visitors to an array of transportation choices and attractions. Pedestrians, bus riders, train travellers, drivers and cyclists will soon choose the streetcar’s easy-to-navigate routes and high-quality trips as a link to their destinations. ENHANCED CONNECTIVITY The Milwaukee Streetcar will better connect the Intermodal Station and its 1.5 million annual users to the Historic Third Ward, central business district, lakefront and Lower East Side. Hunden Strategic Partners recently conducted a study that determined, “downtown would function more coherently as a single downtown area with a permanent transit service. In a city core that is as expansive as Milwaukee’s, a system of intersecting transit lines or streetcar tracks set up as a downtown-area circulator appears to be a positive path to tie the city’s attractions and people together, and to jump-start new urban development.” CATALYST FOR DEVELOPMENT ”Fostering economic development” is a primary goal established at the onset of The Milwaukee Streetcar project. Cities such as Portland, Seattle and Minneapolis have all seen billions of dollars in new development occur within close proximity to their fixed-rail systems. Milwaukee anticipates similar benefits and is taking steps to capture the streetcar’s full economic development potential. What drives this economic boom is the attraction to permanency. Developers are drawn to fixed-rail routes because they know their investment will be serviced for the long-term. The Milwaukee Streetcar will create the same level of confidence and predictability as have similar systems in other cities. ECONOMIC OPPORTUNITY To demonstrate the economic potential near the streetcar system, the City of Milwaukee conducted a land use analysis of the area within a quarter-mile of the initial route and its extensions. The analysis indicated the following economic activity could be generated by 2030 : 9,000 new housing units (63% increase) 13,500 new residents (55% increase) 1,000,000 sq. ft. of new occupied retail space (31% increase) 4,000,000 sq. ft. of new occupied office/hotel space (28% increase) 20,500 new jobs (23% increase) $3.35 billion of new development The Milwaukee Streetcar is expected to help unlock this development potential. Conservatively speaking even if half of these figures are achieved the knock on effect with regards demand for real estate in and around the city will surely be positive. With higher demand comes a growing rental market and also fantastic potential for capital growth. Milwaukee is a market with tremendous, long-term potential for increasing rental and property appreciation, if you would like to see our current Milwaukee properties please email invest@globalinvestmentsincorporated.

Saint Louis the new leader of Mid West America

St. Louis the “Gateway to the West” is one of America’s most historic cities and ranks among the best places to live in the U.S., coming in at number 81 of 125 cities. If you’re interested in investing in rental properties for long-term appreciation and income potential, then you’ll find what you’re looking for in the St. Louis. The city is in the middle of a makeover and there are nine new projects underway which are bringing this city right into the 21st Century.Armory DistrictThe Armory District is located in St. Louis’ hot Midtown, the plans involve the renovation of the historic Armory building, a greenway path and 250,000 square feet of office space. With close proximity to the Cortex District, City Foundry STL, the Grand Avenue Metro Station, Iron Hill Development, and St. Louis University – The Armory District is a key piece of the City’s Midtown renewal.Ballpark Village Phase 2The 700,000-square-foot project includes a hotel, office building, retail space, restaurants and a high-rise luxury residential tower with views of the stadium. The $260 million project promises to “bring the village to Ballpark Village” and is projected to add more than a thousand permanent new jobs to downtown.Chouteau GreenwayPlans are a foot for a fee accessible trail throughout the city, a place where people can exercise and explore, organisers are looking to build a path that stretches from Forest Park to Gateway Arch National Park and Tower Grove to Fairground Parks through twenty city neighborhoods.Major League Soccer StadiumThe 30-acre proposed stadium development site is just northwest of Union Station in the Downtown West neighborhood. Plans for the open-air arena include canopy shading and a seating capacity of 22,500, with each seat within 120 feet of the pitch.NGA West CampusThe National Geospatial-Intelligence Agency is planning to build a new 97-acre campus in the historic St. Louis Place neighborhood at the intersection of Jefferson and Cass avenues, is it expected to be the largest federal investment project in the history of St. Louis.St. Louis AquariumThis 120,000 square feet aquarium is located in Union Station and is fast becoming one of the best attractions in Saint Louis.39 NorthThis is a 600-acre development in Creve Coeur and includes proposals to build a mixed retail, office and residential area connected by green space and biking trails, it will be located at the intersection of Olive and Lindbergh boulevards.HyperloopPlans are still under review for a high-speed transportation route between St. Louis and Kansas City, the total journey time would only be 30 minutes. This would bring huge employment and opportunity to Saint Louis.Demand for St. Louis real estate will continue to grow as more and more development takes place in the city, this will have an impact on pushing prices upwards, low inventory is also putting upward pressure on prices.St. Louis housing market is now one of the top investment locations in the Mid West as prices still remain very affordable. Saint Louis is a market with tremendous, long-term potential for increasing rental and property appreciation, if you would like to see our current Saint Louis properties please email [email protected]

ARE PROPERTY REHABS THE BEST WAY FORWARD ?

Over the last 12 months we have seen a dramatic increase in demand for “rehabbed” or “Turnkey” properties, this is not just unique to Global Investments but seems to be a general trend with US real estate properties. One may ask why is this happening now and would it not be better to buy a tenanted property without all of this extra hassle ? The reasoning behind this trend is because some investors are seeing the added benefits of buying a refurbished property as compared to an older tenanted property. The first big advantage is your yearly maintenance bills, with refurbished and updated properties you tend to have lower yearly maintenance bills due to the fact that most things items are upgraded or replacing, you tens to find new plumbing and electrics and well as updated kitchens and bathrooms, with some refurbished properties they even go as far as replacing the roof. With non refurbished properties we generally see that some things will need to be fixed or replaced due to general wear and tear. Another reason is that you tend to find that refurbished properties offer better value for money and are generally available in the better parts of the cities. Buying a refurbished property gives you the opportunity to buy a run down property have it refurbished and therefor add value to the property. Looking at some of our recent refurbishment’s we can see that houses in the same areas that have already been refurbished are generally 20-30% higher in price. A rehabbed home, by definition, makes the home move-in ready. This immediate usability makes it attractive to investors, having real estate ready to go means you can start earning income instantly and get your new tenants placed. Once the property is ready your management company can then start the process of placing your tenants which can be either private tenants or Section 8 tenants given your preference. Again people may ask surely it makes sense to buy properties with tenants already in place, well not really, with a vacant property you are starting with a clean slate and not inheriting tenants. The management companies will screen your tenants make sure they are fully vetted and take a security deposit from them, you are therefore confident that you are getting good tenants placed. Management companies love receiving refurbished properties as they know tenants are constantly looking for these, especially in the good areas, what tenant would not prefer new carpets and paint and updated bathrooms and kitchens. Buying refurbished properties can help you transform your property portfolio and opens up different avenues as an investor. Maximising a property’s capital and rental value is clearly a key motivator for investors, but the most important factor is ensuring that the property is in good shape for tenants and have your tenants placed as quickly as possible. With a refurbished property you also have the option of putting your own stamp on the property, maybe choose the colour of the kitchen cabinets or decide on the colour of the paint, some investors love this part of the process or you could just leave it to the contractor. Every refurbished property we offer for sale will have a full inspection report carried out once the contractor has completed their work, a sang list will be drafted and each item will be fixed before you close on the property, you will also receive pictures and videos throughout the whole process. As a company we use some of the best building contractors in the US who have competed on 100’s of properties, we have a solid team both in house and on site and always deliver on time. Here is an example of a large property in Cleveland that has recently been refurbished by one of our contractors, tenants are now in place and the property is under management by a great company. Before rehab After rehab If you would like more information on any of our new refurbishment properties please email [email protected].

Dan Gilbert the Detroit legend

When Dan Gilbert was 11 years old he took a drive with his grandfather down Woodward Avenue in Detroit. He sat in the back seat of their ’71 Oldsmobile as his grandfather pointed at an empty retail location on Detroit’s main drag and said there “usta be” something over there. Then he pointed out how there usta be streetcars downtown, there usta be this, usta be that. Gilbert says that memory captures how he saw the city while growing up in the neighbouring middle-class suburb of Southfield in the 1960s, and he shared it in a keynote speech with several hundred real estate professionals gathered at the Urban Land Institute’s annual meeting in May, at Detroit’s Cobo Center. “Doesn’t matter who you are or where you come from: I can guarantee that people have been pointing to things for a long period of time and saying ‘usta,’” he said. “And when you look back at the sort of symbolic bottom of Detroit, I couldn’t think of any worse or sadder word to describe it than ‘usta.’” Detroit is a large city that lost hundreds of thousands of residents over decades. Its downtown, where Bedrock’s development is focused, became increasingly vacant. This is now finally changing, and it’s in no small part because of Gilbert, the billionaire founder of mortgage company Quicken Loans and the owner of NBA’s Cleveland Cavaliers. Over the past ten years, as media reports, films, and books churned out negative slurs portraying Detroit as a hollowed-out dystopia, Gilbert and his real-estate firm, Bedrock, were buying swaths of property at bargain prices and pumping in billions of dollars. Right now there are about 100 properties in Bedrock’s Detroit portfolio. Since its founding in 2011, Bedrock has invested and allocated a total of $5.6 billion into the city. Rock Ventures, Gilbert’s umbrella company of more than 100 businesses, accounts for 17,000 jobs in Detroit, making it the city’s largest employer, minority employer, and taxpayer. He moved Quicken Loans, now the US’s largest mortgage lender and the foundation of his fortune, to Detroit in 2010. As Detroiters struggled with the results of years of poor governance at the city and state levels, Gilbert continued a spending spree with the aim of breathing life back into the heart of the city. Now, for the first time in years, not only are Detroiters and Michiganders interested in what’s happening downtown. Global Investments have seen an increasing demand in the last 2 years from investors eager to capitalise on the early days of picking up the best bargains in the best locations in Detroit and Cleveland. Dan Gilbert is looking to save Detroit again ! Obviously many clients have contacted Global Investments recently concerned about investing right now during the global Covid 19 pandemic. For a more detailed answer here is a link to a great previous blog on this very subject : Rental property investment could be the safer option in today’s struggling stock market It is great news then for our investors to hear the positive steps being taken by Dan Gilbert in Detroit and Cleveland during these crazy times. This will no doubt give those still sitting on the fence a little but a reassurance. The next few weeks will most certainly be a buyers market. Dan Gilbert has donated $1.2 million to Detroit organisations to help them fight the outbreak of COVID-19. The donation from the Quicken Loans Community Fund and Gilbert Family Foundation includes $500,000 for the United Way for Southeastern Michigan, $250,000 to the United Community Housing Coalition and $450,000 for small businesses and existing grant partners to ensure they can maintain operations in the weeks ahead. “Our actions today will impact the trajectory of the coronavirus tomorrow, which is why it is so critical that we, as a philanthropic community, immediately support Detroit residents through direct investments in families and those nonprofits that provide crucial services,” said Jennifer Gilbert, co-founder of the Gilbert Family Foundation. “The Gilbert Family Foundation is proud to invest in United Way and United Community Housing Coalition in order to mitigate the impacts of this virus today and for the foreseeable future. We encourage other organisations to join us in supporting this necessary cause.” The money provided to the United Way for Southeastern Michigan will go straight to its COVID-19 Community Response Fund, which supports families and nonprofits to ensure access to health care, emergency financial supports and food, as well as addressing long-term needs that result from loss of jobs and income. Quicken Loans is also matching fundraising for team members who donate to organisations in Detroit, Cleveland, Phoenix and Charlotte. Dan Gilbert is also waiving rent and parking payments for up to three months for the small businesses located in buildings. Select businesses that are located in Bedrock buildings will not be charged for rent, parking, or other expenses through the end of June, the company announced in a statement released on Monday. “As with all of our tenants, entrepreneurs and small businesses play an incredibly important role in our local economy, which has been central to Dan Gilbert’s vision over the last 10 years of his investments in Detroit and Cleveland, ” Bedrock CEO Matt Cullen said in a statement. “It is going to take the entire community to mitigate the effects of this pandemic on the region, and we are happy to do our part to help our portfolio’s most vulnerable businesses weather the storm. In Detroit, Bedrock houses 125 retailers and restaurants, in addition to another 210 businesses in office space, according to a press release. The company said in a statement that none of the small businesses it leases space to had folded due to the virus thus far. So if you are looking to take advantage of buy to let opportunities in Detroit or Cleveland, Speak to a member of our team today and we’ll help guide you through the process. Email Mike or any of his team at Global at [email protected] .

The Virtual Investor – Is this future of US Real Estate ?

We are all facing a time of economic uncertainty, builders have ceased working on sites across the US and US cities have gone into lockdown. All forms of work have virtually stopped and new stringent measures makes us adopt a more cautious approach when it comes to investment. There is no denying that the current global situation is having an impact on the US housing market but the scale and size of this impact has yet to be ascertained. If we take the last week of March as an indicator we can see that the number of newly-listed properties fell by 13.1% and 34% respectively when compared with the same period a year ago. This is an indication that some Sellers may be holding off on listing their properties right now afraid they may take a hit due to the current market conditions. During this period we have also seen that house prices did not rise but more or less stayed level as compared to this time last year according to realtor.com there is no doubt that the current situation is disrupting the normal momentum we see in the US housing market. Claims of mass unemployment and a foreclosure crisis may keep some investors on the side line but one key difference now as compared to the 2000s is the housing market stock levels, the US housing market is now not over-built. Mark Fleming, Chief Economist for Title Insurance Company First American Financial Corporation has worded it very well “While housing led the recession in 2008-2009, this time it may be poised to bring us out of it,” Rising home values and stricter lending standards have also meant that homeowners are sitting on historically high amounts of home equity as compared to 2000s, that is because before this current global situation the US housing market was on a very strong footing, we do not have to make mass gains to get us back to where we were. Due to the lockdown we all have more time to surf the web and dig a little deeper into areas of interest, we can now spend more time building our knowledge studying how certain markets work and listen to what other people are saying. In recent weeks we have seen a surge in online courses and activities as people try out new things. In the US we have seen many people trying their hand at buying and selling properties to make a profit in anticipation of an economic downturn, which is impacting the inventory levels. There is no doubt that the housing market will not come out of this unscathed but some investors are seeing this current market condition as an opportunity, they label themselves the iBuyers. iBuyers are individuals that purchase homes outright from doing their own research on the web, they are looking at the properties age, condition, and zip code some of them even use mathematical algorithms, the iBuyer predicts the home’s future value, with the hope to eventually list them on the open market or sell them for a profit. While this does seem appealing especially since we all have more times on our hands we do need to take into consideration the cons of going it alone. iBuyers have to make a profit, and to do that, they can’t offer sellers full market price for their homes. This typically means sellers get significantly less for their home than they would if they used traditional methods. iBuyers also need to cover repairs and maintenance in order to make the home marketable. These expenses can severely impact the potential to make any profit. The other risk for iBuyers is being unable to resell the property quickly enough, having costs can add up, they might have ended up buying a property that is different to what they originally thought. The convenience of iBuyers is definitely intriguing. However, it seems like the overall cost of this convenience will need to come down before it becomes consumer-friendly and more mainstream to investors. Our advice is to trust the experts, years of experience and a solid network of trusted suppliers lessens the likelihoods of entering stormy uncharted waters. As a company we always do extensive due diligence on every property we list, we are currently pushing our suppliers to provide us with properties just below market value, to give us all a little bit of room should the market drop slightly. Our purchasing power enables us to get the best deals for our clients given the current environment, going it alone as an iBuyer is not always the right decision. We are also working hard to expand our inventory of Section 8 and other assisted income properties as these are seen as a very appealing investment in this current market. Like other US Real estate companies we are adjusting to the current changes, safety of our staff is paramount so we also have adapted to working at home, carrying out virtual tours, using teleconferencing platforms and working with authorities in relation to their guidelines and advice. It is the same with the Partners we work with, from the management companies to the title companies, they too have adapted to this new environment while maintaining the same level of service they have always provided. We think our new inventory is better than ever, very reasonably priced properties from the top suppliers in the US. This current situation will end one day and the market will come back strong, there is no doubt prices will rise in the future far beyond what they are today. If you would like to see our latest inventory please email [email protected]