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Updated about 4 years ago on . Most recent reply

Carson M.'s profile image
Carson M.'s profile image
Carson M.
  • Investor
  • from Ferndale, MI
  • Member since Oct 24, 2013
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Carson M.'s profile image
Carson M.'s profile image
Carson M.
  • Investor
  • from Ferndale, MI
  • Member since Oct 24, 2013
Connect
Carson M.
  • Investor
  • Ferndale, MI
40
Votes |
130
Posts
Real Estate Deal Analysis & Advice

Metro Detroit Rental Success

Carson M.
  • Investor
  • Ferndale, MI
Posted

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!

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