I try to keep this from happening early on in the discussion with my contractors -- I'm nice, but very firm about my expectations (and what I have to offer in return for working with me).

It is very nice to have a homebase to operate from.

Nicely done J ScottHopefully that clears it up for people.

Macomb County has some nice areas (I spent 23 years there) but it also borders Detroit at 8 mile.

Couple that with a nice double-digit CAP and annual ROI and you may have a winner.I think fire damaged homes are a great target for wholesalers.

Yes, I did, nice pitch from the firm but I like it, still not the big picture, but I like it!

The reality is there are MUCH BETTER properties out there than buying this POC at any price.If we are having to come up with extreme examples under which this property might possibly work it is a loser.If you change the layout etc. it still is on a crappy sloped lot.Any property manager will tell you these types of properties even after being rehabbed nicely are hard to rent out to quality tenants.On value add deals the investors I talk with that own 100 to 150 units at a time go for buildings that are at about 50% to 60% occupied.The sweet spot (as they call it)where all the copper and electrical is still there and some tenants are paying for cash flow.The buyer can convince the bank that the property is going down hill to take a lower price and the seller if not the bank has already given up on turning the property around.Over time the new buyer can rehab each unit one at a time to turn around while having cash flow.

It's actually on a pretty nice street; my immediate neighbors are the only problem residents that I know of.

He was actully real nice about it even tho it was a low offer, but i told him he can keep my side of the comission so I think he was pretty happy.This was actually my first offer ever submitted so I was a bit nervous but feels good now that I got that out of the way.

Nice grab!!