Step by Step Process
First: Get Your Questions Answered
- Have questions? A. Deonte McBride (ADM Capital Investments LLC) has answers. Please feel free to contact him at 1-313-980-9902 or email him at email@example.com. Antonio will be able to answer any questions you may have about our investing process.
- Next step is finding properties. We take into consideration your investment strategy and cashflow goals and find an ideal investment property for you.
- While searching for your investment properties, a client new to the US market will contact a lawyer (solicitor) in the US and work with the lawyer to establish a corporate entity to hold any purchased properties. Typically a Limited Liability Company (LLC) is established to limit personal liability and to streamline bank account set up. Your lawyer will be able to explain more on these points. Who you choose as your attorney is completely up to you. If needed ADM Capital Investments can make a recommendation upon request. Your attorney can help with the set up of a US Bank account tied to the LLC, and can recommend an accountant for tax purposes. Typically no more than $500 will be needed to set up the LLC, bank account, and file an annual tax return.
- During this entire process, we will be in close contact with you via email and phone. We want to ensure that this process is seamless and smooth for you so any questions that you have please feel free to ask at any time.
Second: Reserve Your Properties
- At this point of the process, you would have identified, researched, and selected the properties you want for your investment portfolio. When you have made a decision, we will reserve the properties for you, removing the property from our available property list and preventing our other investors from reserving them. We encourage all of our clients to move quickly at this stage as, generally, our property inventory is sold with 2-4 weeks.
- To reserve the property we require a signed legal document called “The Agreement to Purchase Real Estate.” You will receive this document via email, and it will outline the details of the chosen properties.
- A representative from ADM Capital Investments will reach out to you to discuss to discuss the details of the purchase agreement and answer any questions you may have. After reviewing the document, you will email or fax the signed copies to our office.
- We require a deposit of $5000 to reserve the selected properties. These funds must be transferred via a bank wire to the title insurance company that will hold this deposit until the sale is complete. The title company is also the conveyor for the sales transaction.
- Typically, closing will occur within 2 to 3 weeks once we have receive the signed agreement and the title companies receives the $5000 wired funds.
- After these steps are completed, property purchase insurance will be placed on the properties and the title company will produce a title insurance policy to insure your deed (i.e., your ownership interest in the property) against liens, back taxes, or past title issues.
- While all of this happening, we will be finding a tenant to occupy your property. Our partner company, Peerless Properties, will be marketing your property, screening tenants, and selecting the ideal candidate for an immediate move into your property. Once any construction and renovation is completed, we have a Section 8 inspection done to make sure your new tenant is living in a safe and comfortable environment. We do no sell or recommend that international investors buy “empty” properties in Detroit. And this is why we make sure every property has a tenant upon purchase.
Third: Close Your Purchase. Become A Property Investor
- Two days before you close on the properties, the title insurance company will contact you and email you the final settlement documents. Upon receipt of these documents, a ADM Capital Investments representative will give you a call to review the documents with you and to answer any questions you might have.
- After you have reviewed the documents, you will sign where needed and wire transfer the balance settlement funds to the title company handling the transaction. We, as the seller, will also sign the documents.
- The title company will create and convey to you a signed Warrant Deed. This document records your new ownership of the property, completely free of any title encumbrances, to you, the buyer.
- Once the title company has received all of the signed documents from both buyer (you) and seller (ADM Capital Investments) and the final balance amount of the sale price has been transferred to the title company’s escrow account, the title company will look over and “close” the transaction by “disbursing” the balance amount to the seller and the property is officially transferred to you LLC.
Fourth: Get Monthly Checks With No headaches With Our Hands-Off Property Management Of Your New Pro
- Once the closing has been completed and the ownership has been transferred to you, your new property manager from Peerless Properties will contact you.
- You will receive an email from your Peerless Properties with a username and password to our online portal at PropertyWare.com – the software they use for managing properties.
- Property Ware allows you to access every aspect of your property portfolio from their website or even from your smartphone. It is a powerful online property management software that gives you access to your properties 24/7/365 with information on rent deposits, management, expenses, and data of the like on a monthly basis.