Alister Weightman, a Lincoln based dentist in his mid-40s, decided to turn to US buy-to-let properties to fund his daughter’s university living expenses, preventing him from having to dip into his savings or find the extra money from his own salary.
Looking into different investment options that would bring in a steady income and provide a longer term capital gain, Weightman was attracted by the low prices and high returns available on buy-to-let properties in some US cities.
“At first I was very sceptical about the offer of such high yields and was concerned that if it sounded too good to be true then it was too good to be true,” Weightman commented. “However, I was intrigued and set about doing some serious research on the various companies out there. My son, a property lawyer, did due diligence on the various options available and after much consideration we both felt confident that PCG Invest was the company to go with.”
A UK based property consultancy which advises UK investors on purchasing overseas residential properties, the team at PCG Invest helped Weightman buy his first US property in May last year. Now he owns 10 properties in Detroit and Rochester, New York, achieving net yields of about 20%. He is planning on adding another ten properties to his portfolio.
“As the US economy continues to improve we are always looking for new upcoming cities to source properties for our clients,” Darren Brown, Managing Director of PCG Invest, said. “Detroit continues to be a favourite for overseas investors, especially as it continues to undergo significant economic revitalisation and growth.
“Trust, safety and transparency are the key factors that are making our business successful,” he added. “Many of our clients come back and buy more properties, like Alister, who in less than a year has bought ten houses and is buying more. They like us because we've got a process that works and we're making them money.”
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