(EMAILWIRE.COM, August 04, 2007 ) Detroit, Michigan -- Ralph Maupin, real estate agent said “It is upsetting to go up against competition that has the government subsidized rented homes for sale and offer the investors great returns with management.” These homes are a great value for anyone who is interested in owning single family home rentals that are already occupied with quality tenants. Most of the homes have 'Section-8' renters as tenants. The 'Section-8' program is a government subsidized housing program for individuals who need assistance but have a good rental record. The check comes directly from the government to the landlord. Most of these tenants have been in the homes for over a year and would like to remain as renters. Section-8 guidelines for rental homes is strict, the homes have to go through a yearly inspection. This assures the new buyer a quality, inspected, up-to-code home. There web site for Metro Property Suppliers is: http://MetroPropertySuppliers.com/Programs.htm.

Program Buyer Criteria:

The have designed this program to meet the needs of the investor/buyer who wants quality cash-flow rentals with as little out of pocket as possible. Although the costs are kept low, there may still be expenses that the buyer needs to think about before considering this program.
The minimum criteria include:

1. Minimum credit score of 660 (Exceptions can be made if borrower has more money in the bank & other assets).

2. Buyer must show at least 5% of the purchase price in assets (Savings/
checking account as well as retirement accounts are acceptable).

3. Buyer must pre-pay for the following: $500.00 Earnest money deposit (this will be used towards closing costs), Termite inspection (Lender Condition), Appraisal Fees, Insurance & Presale Inspection.

Cost of Homes:

the price of the homes is based on a percentage of APPRAISED VALUE. This
figure ranges from 85-90% depending on the borrowers mortgage parameters as well as the amount of homes purchased. Example, based on a borrower who is buying 5 homes at a time and is getting a price of 85% of appraised value, a home appraised at $70,000.00 would cost $59,500.00. This would leave the buyer with immediate equity in the property- in this case $10,500. The buyer can then decide if they would like to keep the equity in the home or
use some of it at closing to cover more of their costs.

This program is bring Arizona, Californian, real estate investors, and give those investing in real estate high returns on performing assets with one site management.
If you have any additional questions that have not been answered in this package, please feel free to contact the office at: 248-519-2324.

Web site; http://MetroPropertySuppliers.com.

Contact Information:
National Real Estate Netroit, LLC
National Real Estate Network
Tel:
Email us


This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.