Waterford Michigan Flip

[Michael Mannino II]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $30,000
Cash invested: $85,000
Sale price: $208,000

Closed in 2 days after seeing it to help save the owner from losing it due to back taxes. The basement was completely flooded and required significant foundation repair. Full cosmetic rehab on the rest of the interior and the exterior. Turned out really great and sold only a few days after listing!

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

Our marketing (direct mailers) was sent to the owner for years. We actually flipped the house directly next to it a year ago and he remembered. When he got in a tough situation, he called us first and we closed 2 days after seeing it and 1 day before the state was going to take the house from him.

How did you finance this deal?

Private money

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Legacy Title Agency