Detroit - fix and flip

[Peter Ivantsov]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $18,291
Cash invested: $3,292
Sale price: $25,312

Contributors:
Thomas Rogge, Vincent Ribes

Part of a pack of houses we purchased from a distressed seller we did light cosmetic touches and cleanup mostly and then it sold it on the spring market.

What made you interested in investing in this type of deal?

It was part of a pack with one of the houses making us 100k +

How did you find this deal and how did you negotiate it?

Distressed seller, negotiated because it was squatted and not rented out for a good year as covid hit.

How did you finance this deal?

Cash

How did you add value to the deal?

Clean up and cosmetic

What was the outcome?

Sold for a small profit as part of a pack of houses.