All Forum Posts by: Donovan Clock

Investment Info:

Single-family residence fix & flip investment in Lansing.

Purchase price: $65,000
Cash invested: $29,000
Sale price: $145,000

Contributors:
Alexis Gross

Renovated the first floor, finished the basement, converted carport into a garage and painted the house. Also added new windows and furnace.

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

Easy to buy and sell

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

MLS. Offered asking

How did you finance this deal?

Private money

How did you add value to the deal?

Rehab

What was the outcome?

Sold for 145,000

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Alexis gross - Realestate agent

Really looking to connect with someone who has experience buying a house at a foreclosure auction. If you did it in Michigan, even better. Found a house coming up for auction soon and the whole process and what happens after the auction day is a little confusing for me. Any help would be gladly appreciated   

 Yes we do, we finished another in Lansing that we will be closing this week and have one coming up in Lincoln park!

Investment Info:

Single-family residence fix & flip investment in Pinckney.

Purchase price: $85,000
Cash invested: $40,000
Sale price: $215,000

Contributors:
Alexis Gross

Complete gut and remodel, lots of exterior work. Power wash and stained wood siding

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

Good location great price

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

Foreclosure on the MLS. Offered 15k above asking due to multiple offers

How did you finance this deal?

Heloc and private lender

How did you add value to the deal?

Rehab inside and out

What was the outcome?

Sold 5k over asking first day

Lessons learned? Challenges?

Manufactured homes have lots of differences then stick built

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Alexis gross

Investment Info:

Single-family residence fix & flip investment in Stockbridge.

Purchase price: $98,000
Cash invested: $45,000
Sale price: $197,000

Contributors:
Alexis Gross

Complete gut on this 1930 craftsmen style home. Remodeled everything. Including refinishing the original 90 year old hardwood floors.

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

Close to home, good money maker

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

Mls offered asking

How did you finance this deal?

Conventional mortgage partners heloc for Reno

How did you add value to the deal?

Complete rehab added ac new siding too

What was the outcome?

After a couple buyers fell through, we sold at 197,000

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Alexis gross our realtor Is great, highly recommend

Investment Info:

Single-family residence fix & flip investment in Lansing.

Purchase price: $70,000
Cash invested: $18,000
Sale price: $127,500

Contributors:
Alexis Gross

Fix and flip in Lansing Michigan. 3 bed 1.5 bath. Owned for a total of 90 days from closing table to closing table.

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

Easy cosmetic flip, under our 100k budget

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

MLS, it was a foreclosure and had been sitting for months. Offered 15k under asking and they accepted.

How did you finance this deal?

Partners heloc

How did you add value to the deal?

Mostly Cosmetic rehab we did ourselves

What was the outcome?

Sold first day. For $2500 above asking.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Alexis Gross, real estate agent out of Brighton mi. Highly recommend