#38 rental was purchased today

[George P.]

I closed on #38 today. it's located in Redford, which is close to Livonia, Westland, Garden City, Northville and Canton. 

It was not listed on the MLS, not from a wholesaler either. I had to pay back taxes of 5k, and it happened in about 3 weeks, which is super fast.

it's a ranch, 3 bedrooms, brick, basement, 2 car garage, backs up to a high school. it's between Beech Daily and Inkster road.

it's dirty, the roof had caved in at one point and my roofer will go there and change it soon. the hardwood in the room where the roof caved in is moldy, obviously been wet for awhile.

this house will be cleaned, demoed, locked and will wait for us until we can get to it. we are 4 houses behind at the moment, so it's nice to stock pile for "rainy day".

i am not revealing the price yet because i might wholesale this one. there's plenty of spread for someone to make some money on it..

i have another one under contract for 66k from the MLS, but i migth pass on that one since i am low on funds at the moment.

still self manage, have a 8-4 day job, a wife that travels out of state during the week and 2 monsters under 4 yrs old to take care of.

yes, i think about quitting my day job daily, thanks for asking. :)

[George P.]

Originally posted by @John Santos:

Originally posted by @George P.:

Originally posted by @John Santos:

George P. Awesome stuff!!! I really admire that you are not one to just think about it but actually take action.
Are all of your properties SFR's?
When did you purchase your first investment property?

 All of them are sft. I got the first on in 2010. I broke them down in my profile how I acquired them.. 

That is just amazing. Good job. I need to get off my A$$ and do the same.

And you hold them as rentals right? I thought MI was a landlord UNfriendly state... Any issues evicting people?

 You know who worries about what state is friendly or unfriendly for rentals? Dreamers, not doers. 

Be a doer, not a dont'er. A quote from a movie