Please contact us to find out the latest deals in the New York Tri State area from just $80,000 for a single family home giving yields of 8 -12% and a fully turn key solution which is ideal for the ‘armchair’ investor. We have partnered with a very experienced Wholesaler who has been in the property business for 30 years in New Jersey. Today is a great opportunity to take advantage of the distressed prices that are currently available in the USA
The collapse of the American mortgage market has produced an extraordinary once in a lifetime investment opportunity. As we have all read about, the banks were forced to increase their capital requirements and enforce strict mortgage lending criteria which resulted in millions of foreclosures as owners could not refinance and home values went under water dramtically across the whole of the USA. Faced therefore, with extreme negative equity on their properties, millions of US homeowners opted for bank foreclosure (repossession), rather than face the prospect of many more years of negative equity as poor credit histories in the US can be totally removed after just three years. This shift away from home ownership ( at its peak it was 69%) has meant a shift towards rentals, driving up rents and thus yields, as millions of ex-homeowners sign up as tenants. Even Hedge Funds are now buying bulk purchases of multi family homes for their portfolios
In the past 5 years 4 million homes or 3 % have been repossessed in the USA compared to 187,000 in the UK ( 0.7%) . Another 3 million owners will go into foreclosure over the next 4 years with 20% of mortgages under water.
Analysts say that property in the US is now 23% undervalued compared with disposable income and 10% undervalued compared with rents. In the UK prices are 19% overvalued compared with income and 25% overvalued compared with rents!
With our partner we have identified distressed and short sale properties in Hudson County, New Jersey which are available to purchase with clean title and completely refurbished with brand new kitchens and bathrooms. We offer a 100% turn key solution offering management and sourcing of referenced tenants as well
Hudson County is directly adjacent to Manhattan Island and New York City. The area has direct rail, road and water transport links to Manhattan offering fast commuter access and linking the two population centres. In fact from Jersey City to World Trade Center takes just 10 minutes. Being such a short distance to lower Manhattan makes Hudson County extremely well positioned to take advantage of the current redevelopment taking place in the area which includes construction of five new skyscrapers (including the ‘Freedom Tower’ which will be the tallest building in America), the addition of 10 million square feet of new office space, a new US$3.2 billion transportation hub and 500,000 square feet of retail space. This proximity to such a large employment centre strongly supports underlying demand for residential property in the area.
Call +1 917 902 5160 or +44 797 015 3772 for further information