Purchase price: $605,000 Cash invested: $12,000 Sale price: $785,000 Contributors: Peter Vekselman Partner Driven and Ann Mesa purchased this home for $605,000 on 06/27/2024, invested $12,000 in targeted renovations, and sold it for an impressive $785,000 on 11/15/2024.

Hey Ricky, Selling a property with a tenant in place can be advantageous, especially if you’re targeting investors looking for a turn-key rental opportunity.

You will get A LOT of appointments by sending A LOT of hard target mailers (like the ones that say 5th notice and such, drive return calls), but it's a lot for a little.

If you plan to do multifamily in the "Far" suburbs it can be harder to hit your cashflow targets VS city/near burbs simply because there is limited inventory. 

Look up comps in your target markets and see how they compare to each other. 

Direct mail still makes an impact too, especially when you’re targeting specific areas.

For this project, that would mean targeting land in the $1.5 million range.

If someone is looking for candidates to sue, having the appearance of wealth can make you a target.  

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

So how are you identifying the target acquisition you make then?