Waterford, MI Flip

[Michael Mannino II]

Investment Info:

Single-family residence fix & flip investment in Anderson.

Purchase price: $111,000
Cash invested: $68,000
Sale price: $204,000

A great typical flip for our team from last year!

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

This is our usual type of house we look for, a 3 bed, 1 bath - perfect first time home buyer house that needed work!

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

Wholesaler

How did you finance this deal?

Private money lenders

How did you add value to the deal?

This one was a hoarder house, we cleaned out the entire property, new flooring throughout, new paint throughout, new kitchen (cabinets, stainless steel appliances, drop in sink, granite countertops), new bathroom (vanity, mirror, tub, tile surround), lots of landscaping, roof repair, some new windows / sliding door.

What was the outcome?

A good profit for a quicker project.

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

Legacy Title Agency