MFR 7 Units - Detroit - GCG Real Estate

[Thomas Rogge]

Investment Info:

Large multi-family (5+ units) fix & flip investment.

Purchase price: $280,000
Cash invested: $320,000
Sale price: $450,000

Contributors:
Vincent Ribes

Purchase Price: $280,000
Rehab: $40,000
Conservative Exit: $450,000
Term: 6 months

We will not be using financing for this operation. The tenants will be placed sequentially as each units is made up to code, to welcome new tenants.

After all 7 units are leased out and rented out for 3 months the short term play is to resell the yield to a fixed income fund at 15% gross yield. Exit at that price would be around $500,000.