All Forum Posts by: Account Closed

Just thought I would share the updated photos of this property after the renovations/repairs.

Nice work @George P.   Time to quit the full time job??

Congrats on #30!  That's awesome!

Congrats on #29!  I think you will reach 35 just fine.

Congrats! Sounds like another good purchase, cant wait to see the finished product.  Keep it up!

Thanks @Jerry W.

Deals like this one are not too common in this particular area. I have not seen a house on the MLS listed under 60k in this township for quite some time, which is why this deal caught my eye!

This week I closed on my 5th rental property. The property is located only a few miles from me, which is a nice bonus. This deal was sent to me by a local wholesaler and I was able to land the property for 39k/cash. The ARV on this property is around 80k. It is 830 sqft, 2 bed, 1 bath. This area is loaded with lakes so you see a lot of these small cottage style houses as well as very large newer builds. This property is in an 'A' township/school district. However, this particular neighborhood is probably a B.

The roof and furnace are both new and the windows are newer.  I plan to pour a driveway to help boost curb appeal.  The interior needs flooring throughout, paint, bathroom gut, and probably new cabinets/counter top.  Will also need to put a shed or something in the back since there is no garage.

I own a similar rental a couple miles from this one that rents for $875/mo, however that lease was signed 2 years ago, so can probably expect to get a little more. 

Taxes are pretty low on this property as well ($1,500 a year for non-homestead).

Should make for a nice spring project!  

Awesome.  Congrats on #27!  I'm sure it will turn out nice.

@John Upperman Congrats on the flip, looks awesome!  

Are you finding any other deals in that area?  It seems that houses that cheap (185k) in a 340k neighborhood would be hard to come by these days.

@George P. is right as far as buy and holds go, I have been looking in Livonia and everything is quite expensive from a buy and hold perspective.  You will really have to search to find a deal,  there is just not a lot of inventory out there.  I have been looking in surrounding markets for better deals.  Flips are a whole different ball game.