Redundancies and a reduction in easily available credit have led to previously unseen volumes of mortgage foreclosures in the US. As a result banks and mortgage lenders have record numbers of foreclosed properties available, assets which they need to liquidate as a matter of urgency.
Cicada Investments specialise in sourcing, refurbishing and marketing US foreclosed properties from a secure UK base. We identify residential properties that are able to yield good rental returns in addition to a strong resale value on exit.
Detroit is currently one of the strongest US markets in terms of growth and rental return. Unlike many other US regions, prices are rebounding and there is a strong year round demand for rental property due to the expanding local industry. Low purchase price and high rental returns make Detroit an ideal buy to let investment market.
Detroit is a varied market but key locations in the city have shown house price increases of more than 20% in the last 12 months. At the peak of the market, the properties that Cicada Investments source were selling in excess of $100,000 (£65,000).
Cicada Investments are a London based company and have been operating in the Detroit region since 2008. In 2011 we sold in excess of 100 properties to our UK investors. The US housing market is at its lowest for decades, now is the time to invest.