Metro Detroit Rental Success

[Carson M.]

City- Oak Park, Michigan

Purchase- 85,000 from a wholesaler.

Rehab- 26,000 plus 3,000 allocated company overhead

ARV- 180,000

Rent- $1600/month

I'm very happy how this one turned out! I purchased it while rehabbing a nearly identical home across the street (I picked that one up for 60k.)  I own three homes a few blocks over.  Those homes are bigger yet only get $1,150/month with long term tenants.  Time to up some rents!