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Updated over 5 years ago on . Most recent reply

User Stats

384
Posts
310
Votes
Keyonte Summers
  • Harper Woods, MI
310
Votes |
384
Posts

Help me analyze this deal BRRRR or Flip

Keyonte Summers
  • Harper Woods, MI
Posted

Just found this deal which I think is great called the listing agent and got some info from her. This property is in the Grosse Pointe area . I might get a PML/HML for the acquisition cost because im in the process of purchasing four doors now .

Acquisition Cost 45k might be able to get it for 40k owner is desperate the city has started fining her so non compliance. Sits on almost an acre of land

Roof: 15k

Garage Door Repair/replacement :2.5k

Drywall 5k

Flooring: 5500

HVAC: 8k

Bathroom reno 7.5k

Paint 1k

Kitchen 7.5k

Cleaning out /Mis 2.5k

Curb appeal- 1k

5k contingency 

Comps from recently sold 155k 2 months ago not renovated smaller square footage

I padded the renovation cost just to be safe and conservative rent in this area 1,200- 1400. I would cash flow 2-300 if I use the BRRRR method even with a HML and holding cost of 3 months

  • Keyonte Summers
  • Most Popular Reply

    User Stats

    473
    Posts
    230
    Votes
    Taylor Chiu
    • Real Estate Agent
    • Salt Lake City, UT
    230
    Votes |
    473
    Posts
    Taylor Chiu
    • Real Estate Agent
    • Salt Lake City, UT
    Replied

    @Keyonte Summers If you're estimates are right, then that sounds like a home run! How close to the subject property are your comps?

    Loading replies...