All Forum Posts by: Mike Seifert

Investment Info:

Single-family residence fix & flip investment in Sterling Heights.

Purchase price: $54,000
Cash invested: $25,000

Awesome Ranch property acquired in Sterling Heights, MI. This property will sell for $175,000 range. Bought it for $54,000.00

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

I am good at these type of deals.

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

Off market property, I did NOT use the MLS.

How did you finance this deal?

My own resources

How did you add value to the deal?

We are rehabbing the property.

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

No, I own both a real estate brokerage firm and mortgage company.

Investment Info:

Single-family residence fix & flip investment in Berkley.

Purchase price: $151,000
Cash invested: $40,000

In process of rehabbing the property. Was slowed down by the city, now we are finally getting it done.

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

I am good at this type of transaction. I know the market and have the cash to do it.

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

Off market deal. Did NOT use the MLS.

How did you finance this deal?

Cash from my resources.

How did you add value to the deal?

Rehabbing the entire property.

What was the outcome?

Will be going on the market soon.

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

No, I own a real estate brokerage and mortgage company.

Hello everyone, thank you for all the nice comments. I have not checked into BiggerPockets in a while. Feel free to Private message me anytime. Mike

What bank is that? I would love to chat with them. I am looking for a bank that lends in Michigan and will finance real estate under LLCs. Thanks!

Investment Info:

Single-family residence fix & flip investment in Sterling Heights.

Purchase price: $79,000
Cash invested: $110,000
Sale price: $145,000

Flipped my first Residential property in 2010 and was profitable.

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

Was already in the business and always had interest in any deal that made sense.

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

Through the MLS. I am a real estate broker. Negotiated myself.

How did you finance this deal?

Private Investor

How did you add value to the deal?

Rehabbed the entire home from cement to roof to windows...etc.

What was the outcome?

I made a profit for my investor and myself.

Lessons learned? Challenges?

You must supervise daily and be on top of every single thing.

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

No, just worked with my own resources.