Which Detroit Property is best to flip?

[Scott Carrillo]

Hi there,

I have an opportunity to buy some properties that were purchased from the last Detroit Auction, the list of properties and prices are below.  Is there anyone in Detroit that can tell me which properties would be best to flip or which to stay away from?  II do not know what the inside for each looks like currently but just for argument sake lets say each property is in the same shape and needs $20000 in repairs. Before I purchase a property on this list I will have a video shot for my due diligence and would be more than happy to share once I narrow it down.

17303 SANTA BARBARA,DETROIT, 48221 for $51000

10775 ROXBURY,DETROIT, 48224 for $14000

11390 ROXBURY,DETROIT, 48224 for $14000

2682 WEBB,DETROIT, 48206 for $19000

11331 MARK TWAIN, DETROIT,48227 for $23000

Thanks for the replies,

Scott

[Brian Pulaski]

@Scott Carrillo

Your first house, one just opposite on the same street, 17214 just sold for $38,500. It is a bit larger, says it needs work but didn't look bad in photos. Looking up and down that one street, the houses sell in the $40k range... I can't see that being a deal.

Your first Roxbury house, the few houses right around it sold for $3200-14,000 with one looking like it sold for $40k. Again no deal there.

The second Roxbury house shows sold houses of $9-50,000, with most being well below $50k. No deal once you factor in your costs, rehab and buying at $14k, unless it needs very little work to be worth the $50k area.

Webb st, looking at surrounding streets I see prices from $2k - $50k... not sure there's a deal.

Mark twaib st shows houses from $7800-$47k around it.

This is my looking for about 2 minutes, so don't take it as "gospel" however these areas have some very cheap homes. Who wants to pay $75k to live next to a $7500 house? I would spend a lot of time speaking with some really knowledgeable locals before making a move on any of them.