One Brick At A Time

Re-Build Detroit

Veronica Todd Bio

Veronica Todd

•Passionate•High Achiever•Knowledgeable

My role as a realtor, broker, property manager and interior architect has given me years of experience needed to move forward to the next exciting level in my career with helping to rebuild Detroit.

Ronald Todd is one of Detroit’s leading Property Managers

• Mr. Todd began his career in property management in November of 2004. There he quickly moved through the ranks after becoming the top agent in his region by January 2005

• In 2009 Mr. Todd joined the team at Singh Management Co. where he managed Adams Creek Apartments. This property was under 200 units.

• Mr. Todd has managed up to 500 units, and a staff of 10.

• Specializes in renting/leasing homes at their market value

• Scheduling contractors and managing maintenance staff

•Getting homes turned properly/ timely

• Keeping his delinquency at or above 98% monthly

• Mr. Todd is the Property Manager at Roanoke Apartments, an Elon Management Community

Ronald ToddExecutive Assistant

Detroit River Front

Downtown

Signs of new life are everywhere in downtown Detroit.

It is currently experiencing one of the largest urban redevelopment booms in the country.

New businesses are finding homes in old buildings. From restaurants and retail to new lofts and condominiums, more young urban professionals and empty nesters continue to flock to downtown Detroit.

City of Detroit

Downtown Detroit

Detroit Downtown Program

WOODBRIDGE

EASTERN MARKET

MIDTOWN

LAFAYETTE PARK EAST JEFFERSON

CORKTOWN

DOWNTOWN

MICHIGAN AVE

Live Downtown Program

Downtown Incentives

If you work for Blue Cross Blue Shield of Michigan, Compuware, DTE Energy, Marketing Associates, Quicken Loans or Strategic Staffing Solutions, it literally pays to live downtown.

These employers are offering financial incentives to employees to live where they work.

Here’s a quick look at how Live Downtown works, full- and part-time employees of the five participating companies who work in southeast Michigan are eligible to participate in Live Downtown

Those who choose to move downtown or who already live there can use the following incentives:

New home owners receive a $20,000 forgivable loan toward the purchase of their primary residence.

Detroit Program Continue

New renters receive a $2,500 allowance of funding toward the cost of their apartment in the first year, followed by additional funding of $1,000 for the second year.

Existing renters receive a $1,000 allowance of funding for renewing a lease.

Existing homeowners receive matching funds of up to $5,000 for exterior improvements for projects of $10,000 or more.

Eligible neighborhoods are Cork Town, Downtown, Eastern Market, Lafayette Park, Midtown and Woodbridge.

Woodbridge

Eastern Market is a six-block public market

that has been feeding Detroit since 1891.

Eastern Market

Eastern Market

Midtown Detroit

Midtown Detroit is a mixed-use area containing a business district, cultural center, university, and residential neighborhoods located along the east and west side of Woodward Avenue between Downtown Detroit and the New Center. The community area of neighborhoods is bounded by the Chrysler Freeway (I-75) on the east, the Lodge Freeway (M-10) on the west, the Edsel Ford Freeway (I-94) on the north, and the Fisher Freeway (I-75) on the south.[1] The vibrant area includes several historic districts, the Detroit Medical Center, and Wayne State University.

Midtown is Detroit cultural hub, boasting some of the best galleries and museums as well as vibrant blend of housing options.

Lafayette Park is an internationally renowned district of residential architecture, both

historic and modern.

Cork Town

Cork Town

Cork Town

Charming and offering lots to do in little space, Cork Town is also one of the hottest areas in Detroit for new businesses.

A wide variety of businesses are opening or relocating on Cork town’s bustling stretch of Michigan Avenue.

 Largely residential, Cork town is also home to a growing number of commercial properties. The neighborhood was listed on the National Register of Historic Places in 1978 and is also designated as a city of Detroit historic district.

Downtown Detroit

Demographic

Government and infrastructure

Transportation

Downtown Detroit

Demographics 2010 Census, there were 5,287 people residing

in the district. The population density was 3,671.5 people per square mile (1,417.6/km²).

There were 4,572 housing units. The census reported the district residents as 63.6% Black, 28.2% White, 4.0% Asian, 0.5% Native American, 0.6% other races, 3.0% two or more races, and 3.3% Hispanic .

Government and infrastructure The city of Detroit offi ces are located in the

Coleman Young Municipal Building. The Guardian Building serves as headquarters

for Wayne County. Detroit Fire Department has its headquarters in Downtown Detroit.

Transportation

The city of Detroit is getting some pro bono transit assessment services that might help it do a better job of delivering bus services to its residents.

On July 20, 2014, the Ilitch family, owner of Olympia Development of Michigan, and major investor in M-1 Rail, announced that the streetcar line will include a stop at the new $450 million Detroit Red Wings arena in Midtown, when construction is completed in mid-2017.[1

M-1 Rail

The M-1 Rail will be a 3.3-mile long streetcar line stretching from downtown to New Center

"Passengers want a reliable, safe, and clean experience and the operator of the line will be a catalyst for that," says Paul Childs, chief operating officer of M-1 Rail.

Detroit People Mover

The Detroit People Mover is a 2.9-milesystem which operates on a single track, and encircles Downtown DetroitThe People Mover is owned and operated by the Detroit Transportation Corporation (DTC)

officially opened to the public on July 31, 1987

Developing A Strategy To Rebuild Detroit

The Peruvian developer

3.5 million-square-foot Packard Plant on the city's east side has much broader ambitions for his portfolio in the city, which first took notice of him in 2013 when he bought the shuttered plant — all 47 buildings, all 40 acres — for a mere $405,000 at a Wayne County tax foreclosure auction.

Detroit-based Alfred Kahn Associates Inc. is the architecture firm on the project; Troy-based O'Brien Construction Co. is the general contractor.

Palazuelo expects the financing sources to be identified, and licenses and approvals will be received by August, and that construction could begin shortly there

The Peruvian Developer

“Palazuelo” said in an interview with Crain's last week that he plans to make offers to buy five of greater downtown's most storied buildings

255,000-square-foot Book Tower and adjoining 260,000-square-foot Book Building;

the 996,000-square-foot Penobscot Building;

Albert Kahn Building

Fisher Building

#1 Competitor in Detroit

• Dan Gilbert's Quicken Loans, the nation's largest online mortgage lender, closed fewer loans in 2014, about $60 billion vs. $80 billion in 2013, as government refinancing programs wound down.• To date, Gilbert's total investment in Detroit nears $1.5 billion. (For comparison, the city's annual budget for 2013 was $1.12 billion).

• Cleveland Cavaliers

• Compuware building• He’s purchased and updated more than 60 properties downtown Detroit, at a total cost of $1.3 billion• Greek Town-Hotel-Casino• Hudson Site

Gilbert's (and the city's) next big challenge is to spread this success to Detroit's sprawling outer neighborhoods, many devastated by abandonment.

Detroit can never regain its reputation as a world-class metropolis while its poorest sections rot around a revitalized downtown. Nor can the city solve its other major problems like crime, education, or the lack of jobs without first eliminating Detroit's blight. "Not part of it, not some of it, not most of it, but all of it," Gilbert says.

Detroit Emergency Manager Kevin Orr estimates that it costs $8,500 to demolish a house here;

Detroit has roughly 78,000 abandoned buildings. Still, Gilbert remains undaunted. As the co-chair of the Detroit Blight Task Force, a privately funded group, he is executing a vast survey project. Teams are assessing 382,000 parcels of property to produce a database that will allow the task force to analyze and understand the scope of the problem. Then, Gilbert and his team will present the findings and develop a plan by this spring to abolish the city's blight. It's likely to be an ambitious and incredibly expensive proposal, potentially costing north of a half billion dollars if every vacant structure is razed.

Gilbert’s architectural impact downtown would grow if he succeeds in building a signature complex atop the old Hudson’s site. Gilbert has hired a New York firm,

Hudson Site Official Rendering

Mike Ilitch

Live, Work, Play

Red Wings New Home

the sports-centric entertainment district near and along Woodward Avenue.

The development will be anchored by the $450 million Detroit Red Wings arena but is meant as an overarching vision for an additional $200 million in apartments, restaurants, offi ce buildings, parks and shops over 45 blocks.

The new entertainment district underway is meant to create five neighborhoods and stitch together the city where it’s divided by the Fisher Freeway underneath Woodward Avenue.

The 650,000-square-foot hockey and events center and the new neighborhoods — which also are meant to connect to the sports stadium/entertainment area including Ford Field and Comerica Park — are scheduled to be ready by summer 2017.

DETROIT RED WINGS NEW HOME

Michigan Central Station

Michigan Central Station opened in 1913 as the city's main rail depot. 18 stories of offices sit atop a Beaux-Arts lobby

Manuel "Matty” Moroun, owner of Michigan Central Station, has pulled permits for $676,000 (or 0.045% of his $1.5 billion fortune) in construction work at the historic train station.

JC Beal Construction, Inc. has been hired as general contractor and Quinn Evan Architects as the architectural firm.

As with anything Michigan Central Station-related, the Internet is abuzz with the news that the historic train station will be outfitted with new windows.

Located Cork Town

Developments Currently In Place

East Ferry Street

58 town homes proposed for East Ferry Street $10 million development

The developer behind a 58-unit town home development plans for construction to begin on the $10 million project this Spring.

Julio Bateau, developer and managing partner of Detroit-based Nailah LLC, expects the Nailah Commons development on East Ferry Street west of Chrysler Drive to start accepting residents by the end of the year.

"This is going to fill the large vacant parcels in the Midtown area," he said. "It is the gateway to Midtown and the Cultural Center specifically from the east.

Bateau said the project is being financed with funds from the U.S. Department of Housing and Urban Development, Invest Detroit and Capital Impact Partners.

Twenty percent of the 46 one-bedroom and 12 two-bedroom units will be for affordable housing

Units will range from 708 square feet to 941 square feet for rent.

 The development, which would sit on 1.2 acres, is expected to consist of eight three-story brownstone buildings

Nailah Commons had been proposed prior to the recession as a 35-unit development with for-sale town homes between $125,000 and $200,000, but the project had to be abandoned due to the economic climate, Bateau said.

East Ferry Street Project

Units will range from 708 square feet to 941 square feet for rent.

 The development, which would sit on 1.2 acres, is expected to consist of eight three-story brownstone buildings

Nailah Commons had been proposed prior to the recession as a 35-unit development with for-sale town homes between $125,000 and $200,000, but the project had to be abandoned due to the economic climate, Bateau said.

East Ferry Street

Offering both new homes for purchase as well as new construction townhomes for rent in Phase II,

Morningside Commons is a result of the very successful U-Snap-Bac Non-Profit Housing Corporation (United Streets Networking And Planning Building A Community).

Since 1985 U-SNAP-BAC has offered a diverse set of services, including: home improvements for low income home owners, rehabs of vacant homes, new housing development, home ownership training.

Especially since the recent “mortgage meltdown“, the credit counseling sessions and foreclosure prevention workshops have been very timely.

A mixture of the old, new, and rehab Homes

Habitat For Humanity - Detroit | Home Ownership

We are currently building 3 and 4 bedroom ranches and 3-bedroom, 2-story homes in the Morning Side Commons neighborhood located on the east side of Detroit. The boundaries of this 16-block area are Alter Rd. to Barham and E. Warren to Mack Ave.

Certifications: 5+ Energy Star Rating Michigan Green Built Certified Related Links

Habitat For Humanity – Detroit Home Ownership

Vision 2020 is one of several programs across Michigan created to help strengthen local neighborhoods.

Its mission is to develop local revitalization plans to transform targeted neighborhoods by eliminating substandard housing and its causes by the year 2020.

In the fall of 2005, Habitat for Humanity Detroit and U-SNAP-BAC Non-profit Housing entered into a unique partnership to revitalize the 16-block Morning Side Commons neighborhood on Detroit's east side.

Other partners in this effort were the Morning Side Community Organization, Christ United Methodist Church, and the City of Detroit.

Habitat For Humanity - Detroit | Home Ownership

The Vision 2020 initiative has four major goals:

Enhance the economic and cultural vitality of the neighborhood/community environment.

Develop residents' capacity for effective local governance.

Eliminate substandard housing and improve the neighborhood's physical conditions.

Increase collaboration and exposure within the neighborhood to the services available from community organizations. 

Features:1061 sq. ft. of living space 3 bedrooms 1 bath Full basement 1-car attached garage

Other Features:Whirlpool natural gas range/stove. Alarm system with cellular back-up (in case of power outage). Sod installed yard. CertainTeed architectural 30 year shingles. Low maintenance vinyl siding. Landscaping package available from state of Michigan or Greening of Detroit.

Energy Star Rating Michigan Green Built Certified Related

Features: 1189 sq. ft. of living space 3 bedrooms 1 1/2 baths Full basement 1-car detached garage

Other Features:Whirlpool natural gas range/stove. Alarm system with cellular back-up (in case of power outage). Sod installed yard. 30 year CertainTeed roof shingles. Low maintenance vinyl siding. Landscaping package available from state of Michigan or Greening of Detroit.

Features:1161 sq. ft. of living space4 bedrooms 1 bath Full basement 1-car attached garage

Other Features:Whirlpool natural gas range/stove. Alarm system with cellular back-up (in case of power outage). Sod installed yard. 30 year CertainTeed roof shingles. Low maintenance vinyl siding. Landscaping package available from state of Michigan or Greening of Detroit.

North End, Detroit

•In 2011, the North End Neighborhood Investment Strategy was launched as a three-year partnership between Vanguard and the Woodward Corridor Initiative

•This public-private partnership has attracted widespread support, including from the City of Detroit, Wayne State University, The Kresge Foundation and The Skillman Foundation

The Roxbury Group

The David Whitney, a Roxbury Group project, opened in 2014 following a $94.5 million renovation into 108 apartments, the 136-room Aloft Detroit hotel and Grand Cirque Brasserie, the building's signature restaurant. David Whitney Building with the Broderick Tower attached to it."

Herman Kiefer Health Complex

Herman Kiefer Health Complex Up For Sale

Opened: 1928 as the main building to the Herman Kiefer Hospital

Purposes: Public hospital, health administration, vital records, immunizations

Size: 424,000 square feet Closed: Phased out beginning in 2012; closed October 2013

Who was Dr. Herman Kiefer: a German immigrant who was appointed in 1859 as one of Detroit’s “city physicians” to treat poor people. He was a social activist and history buff. Dr. Kiefer also practiced at Harper Hospital. He died in 1911.

Herman Kiefer Continue

The massive facility that served the city’s underprivileged officially closed in October.

The main H-shaped building is a seven-story concrete and steel structure designed by noted architect Albert Kahn in Neo-Romanesque Revival style

building could be renovated into apartments or condos, but he concedes that the size of the building and costs estimated in the tens of millions to restore it could be prohibitive.

Marketing Strategy for Rebuilding Detroit

Wayne County Auction

In Michigan, every county is required to hold an annual tax foreclosure auction

Three years’ worth of unpaid taxes are offered up in two rounds.

The first round of the auction for the total amount of back taxes owed, plus any interest and penalties.

In the second round, all penalties and interest are wiped clear, and bidding for each property starts at $500.

Oakland County Auction

Property not sold at previous land sales can be purchased direct through the Oakland County Treasurers Office by making an offer on the property. 

There are two auctions of tax-foreclosed property in Oakland County. They're typically held in mid-August and mid-October. Details of the August 2015 sale will be posted several weeks prior to the auction.

Example of Current Investor Portfolio

Purchase 10 homes 5 homes @ $500 each = $2,500 5 homes @ $1,000 each = $5000 $8000 invested to rehab properties $600 per month income from each property =

$6000 monthly $6000 x 12 = $72,000 yearly $72,000 - $8,000 = $64,000 $10,000 for other expenses ( insurance,

attorney fees, taxes ect…) $54,000 profit approximate yearly

How will Frank Montro Vision Be Branded in Detroit

Investment/Rentals

20 homes $500 each = $10,000

20 homes $2,500 each = $50,000

20 homes $1,500 each = $30,000

$90,000 total cost of homes purchased

Allow $80,000 total repair investment

60 x $600 = $36,000 per month

$36,000 x 12 = $432,000 yearly

$432,000 - $170,000 = $262,000 approximate yearly

$170,000

Investment/Properties to Flip

Purchase 50 properties between $10,000 - $20,000

Low end $10,000 x 50 = $500,000

High end $20,000 x 50 = $1,000,000.00

Resale on low end flips $60,000 - $70,000

Resale on high end flips $80,000 - $100,000

$60,000 x 50 = $3,000,000

$80,000 x 50 = $4,000,000

$7,000,000 minus repairs and expenses

Recommendations for Building Your Portfolio

1st recommendation: investors can build their portfolio by purchasing properties through our Auctions here in Michigan, that is were you will get the best return on your money.

(On properties to flip or rental investment properties)

2nd recommendation: Buying properties In the Suburban areas is were you will get a fast and profitable return on your money.

example: 100,000 x.7 = $70,000 - $15,000 = $55,000 - $5,000 = $50,000

ARV x. 7 – (cost of repairs) – expected profit = Max Offer for listed property

Complete Over View For Portfolio Services

Retainer Fee

Tax Tribunal to lower taxes

Insurance, Inspection of properties quarterly

Access, Purchase, list, sale, rent, lease your property

Manage investment rentals including over seeing Portfolio

Maintain Financial records for portfolio

Court Proceedings, Attorney

Transfer Affidavits, closings, title work, water bill adjustments, taxes

Advertising /marketing

Acquition

Project Management for portfolio and construction jobs

Things Investor should know

Properties are seasoned for 90 days in Michigan

FHA homes ,The value must be their the first appraisal if not the value is stagnated for 6 months

HUD Properties, brokers need a HUD number

No city Inspection for Wayne County Auction Homes

Issues that the city is working on to make Detroit a better place to live Detroit Public Schools System Property Taxes Safety

ROYAL OAK TOUR

1103 E 13 Mile Road listed at 155,500

Detroit Tour

14036 Stahelin listed at $55,000

Redford Tour

12828 Arnold Street listed at $75,000

Ambassador Bridge

Ambassador Bridge is suspension bridge that connects Detroit, Michigan, in the United States, with Windsor, Ontario, Canada. It is the busiest international border crossing in North America in terms of trade volume

A new bridge, the Detroit River International Crossing (DRIC), now the New International Trade Crossing (NITC),[11] has been approved for construction by the Canadian and United States governments. The new bridge will be a government-owned and -operated crossing further downriver between Detroit and Windsor.

Theater In Downtown Detroit

Metropolitan Casino

Boat Tours On The River

Diamond Jack's River Tours

Infi nity and Ovation Yacht Charters

Detroit Princess

Questions

Information Links

http://historicdetroit.org/http://www.modeldmedia.com/features/NicoleCurtisRehabAddict-010815.aspxhttp://www.modeldmedia.com/features/deconstruction-economy-supply-121614.aspxhttp://www.modeldmedia.com/features/deconstruction-economy-supply-121614.aspxhttp://www.modeldmedia.com/features/deconstruction-economy-111814.aspxhttp://www.modeldmedia.com/features/deconstruction-economy-111814.aspxhttp://www.modeldmedia.com/features/Detroit-Berlin-Hegemann-111814.aspxhttp://habitatdetroit.orghttp://www.zillow.com/homedetails/530-E-Ferry-St-Detroit-MI-48202/2104737891_zpid/#hdp-photo-lightboxhttp://motorcitymuckraker.com/2013/09/23/12-beautiful-gems-for-auction-in-historic-neighborhoods/www.whydontweownthis.comhttp://www.detroitlivedowntown.org/http://downtowndetroit.org/report.timetoendblight.org