BiggerPockets

2976 Cadillac, Detroit, MI 48214

Saturday, December 13

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•         <!--[endif]-->4 bedrooms, 2 bathrooms

<!--[if !supportLists]-->•         <!--[endif]-->Purchase Price                                     =  $69,000

<!--[if !supportLists]-->•         <!--[endif]-->Down Payment (20%)                            - $13,800

<!--[if !supportLists]-->•         <!--[endif]-->Loan Amount                                       =  $55,200

<!--[if !supportLists]-->•         <!--[endif]-->Appraised ARV                                     =  $80,000

<!--[if !supportLists]-->•         <!--[endif]-->EQUITY                                                              = $24,800

<!--[if !supportLists]-->•         <!--[endif]-->Rented for $950 per month

<!--[if !supportLists]-->•         <!--[endif]-->Cash flow after expenses                              = $305/month

<!--[if !supportLists]-->•         <!--[endif]-->CASH ON CASH RETURN                                  = 27%

Comments

1. 

   Douglas Christian Reply
   over 3 years ago

   Hello Patricia

   I tried contacting you to put you as one of my colleagues, but I never got a response.

   Don't know if that means you are not interested in becoming a colleague or you were just to busy.

   Well I will leave you with my info and I would like to speak with you about your endeavors in the Detroit surrounding areas.

   I live in Charlotte, NC, but I am from Detroit and do much investing in the area. I could possibly help you find other opportunities if you are interested.

   Also have you considered the Charlotte, NC area. Ranked #4 city at investmentriches.com. Great place to invest because of stable economy, location and quality of life.

   I invest in Detroit because I have a buy and hold mentality. I do not FLIP properties. I will wholesale a property, but if I purchase it I will not sell it. This is what I have done for over 6yrs.

   email me at dchristiantw1@carolina.rr.com

   I will wait to hear from you.

2. 

   Patricia Shabel Reply
   over 3 years ago

   Hi Douglas!

   I'm sorry! I didn't realize that you had tried to be one of my colleagues! I just sent you a colleague request. I can't figure out how to respond to yours and I didn't even see the request! Again, my apologies, not personal! I'm still getting used to this blogging and social networking thing! Geez!

   I would love to talk to you! My email is billionaire2010@yahoo.com, and I would love to talk to you more about what you are doing in Detroit and Charlotte.

   I am of the same mentality about Detroit, that for the most part I am buying and holding if I'm buying it and wholesaling most properties right now. The reason that I have this house up, which is owned by my best friend is that we used a private lender and we have to cash her out quickly and we are having a hard time because of all of the bank restrictions that have now happened. I don't know if you know anyone who might be willing to hold a private mortgage or any other suggestions on how to cash out. The property is beautiful and rented and cashflowing. I am open to suggestions!

   I look forward to talking to you soon! Thank you for connecting!

   Sincerely, Patricia Shabel billionaire2010@yahoo.com 323-337-4062