Ann Arbor Michigan fixer upper

[Joshua B.]

Investment Info:

Single-family residence fix & flip investment in Ann Arbor.

Purchase price: $225,000

Buying this little 3/1 in Ann Arbor with a plan to fix it up and flip it or rent it out, whichever seems best

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

Solid price

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

Craigslist. Reached out to owner, toured property, then made an offer.

How did you finance this deal?

Will be land contract with 3 month term to allow for renovation, then BRRRR it

How did you add value to the deal?

Reno

What was the outcome?

We'll see

Lessons learned? Challenges?

We'll see

[Alan Lacey]

@Joshua Birk be careful on you brrr if buying with a land contract. Females guidelines es will only let you take cash out when refinancing to payoff a land contract. And you will typically need 6 months seasoning from the time you refi land contract to do a cash out loan.