Home rehab in wyoming greater grand rapids mi

[Kyle Miller]

Investment Info:

Single-family residence fix & flip investment in Wyoming.

Purchase price: $13,100
Cash invested: $30,000
Sale price: $79,900

This was my first fix and flip, The house was in complete disrepair, it was gutted to the studs, spray foamed, new electrical & plumbing. replaced the water heater and furnace with new high efficient models, new drywall & siding, porches, basically the whole house besides the roof and studs. The hardest part was not having the funds and paying cash for everything. It took about year to get the project done.

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

My dad is a general contractor and previously had done fix and flip deals until the crash of the market.

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

I seen the house on the MLS list for $13000, I immediately put an offer of 13,100 on the house.
The scariest part of the house was I did not have all the cash available, I hustled my A** off to have the cash in the 30 days after my offer was accepted.

How did you finance this deal?

I paid cash for everything, it was a huge struggle as I did not qualify for financing.
I was self employed with another business.

[Kyle Miller]

I wish I could find more deals like that, This was in the 2014-15.  
Biggest problem was the city was a PITA especially when they charged me close to 1000 for permits and told me I only had 6 months and the state says I have a year. They finally gave up and let me continue the permits for the year after I printed off the information for them and threatened to go above their heads!

@Daric Myers this is in Michigan, we have a city named Wyoming.