We are the biggest European company operating in the Metro Detroit real estate market and over the past 4 years have developed and sold 1000 houses in the City and suburbs. In our experience the key factor to success in Detroit is:
- purchasing in the right neighbourhoods and micro-locations
- Have a well organised management company (never manage the house by the seller)
- Controlling maintenance costs
- Having a local presence on the ground at all times
We are acquiring the best properties in the Detroit market ourselves. Before Metro Detroit houses go into foreclosure they are first offered to our organisation. This offers us the best possible position to purchase the best houses in Detroit for our clients. For several organisations we already purchase on a monthly basis houses, which we rehab and manage afterwards. Besides, we are approached daily by investors who ask us to manage their property, since they are dissatisfied with their current management.
Any investor having properties abroad has the same questions:
-Why do I get a bill for repairs? Is it justified? Can it be done more efficiently?
The answer: you will never find out without someone trustworthy on the spot.
In order to optimise property management we have teamed up with a local asset management company who will supervise:
-final tenant placement
-deal with legal issues (since the responsible person is a lawyer by original profession)
-check on maintenance issues
Any repair request in excess of $500 will be checked by our local team. The asset management company will establish whether the repair is needed and if it could be handled more efficiently. Additionally we have our own warehouse facility, so we are able to purchase important materials ourselves and in bulk, ensuring the best possible purchase prices for our clients.
In addition to the above we can assist in finding tenants, securing properties when they become vacant, and certainly also in advising you in acquiring and developing properties.
Conclusion: we are European property professionals who bring the standards of trust, transparancy and expertise to a US market where this is mostly lacking. By providing this service we ultimately always end up saving our clients money as we minimise expenditures on maintenance which, if not managed correctly, can cost significant money.