#28 rental was purchased today in Redford

[George P.]

this is a new one for me since it's in Redford, Michigan. it's just east of livonia, north of Dearborn heights, next to a corner of Westland and Garden City. all our houses were only in Livonia, garden city, westland... this is the first one in redford.

it's a 3/1 ranch, 2 car garage, 1,064 ft. i got it for 64k, would rent for around $1,200.  it was listed for 59.9k. 

needs a bath, kitchen, roof - but that's child's play for us since I am a general contractor and have a crew that does the work. it will sit for awhile until the last 3 get completed. We also do work for homeowners, so if anything comes up, might push the completion back a little bit.

More pics to come soon.

[Ben Parr]

Congrats George, welcome to Redford. Just a heads up, the inspectors here are pretty strict. We've bought houses with newer furnaces or electric panels and they actually make us go back and pull a permit because they were not pulled whenever the work was done.

That said it should be a solid investment. I think Redford has potential to move higher as people get priced out of Livonia, Farmington, Canton, etc. And I think with more and more low down payment loans available we'll start to see more owner occupied houses. Good luck!