First Fix and Flip-lower to middle income families

[Erika Ebbin]

Investment Info:

Single-family residence fix & flip investment in Detroit.

Purchase price: $30,000
Cash invested: $19,000

This property in Detroit is our first investment fix and flip. It is a 3 bedroom 2 bath brick bungalow. The kitchen will be fully renovated and opening up to the dining area with updated flooring and lighting. It has a full basement that can be used for entertaining and additional space for storage. The home will be updated with fresh paint and newly finished hardwood floors.

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

I wanted to put my education of REI and interest in fixing a home to use. I believe that I can contribute to increasing the inventory of properties that new homeowners desire to move into in the metro Detroit area.

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

Through an agent friend.

How did you finance this deal?

Line of credit.