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Forums » Local Real Estate Networking » Detroit Real Estate Investor

Detroit Real Estate Investor Subscribe to Detroit Real Estate Investor

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Jason Neidert

Real Estate Investor


Forum_avatar_avatar-ncomeproperty

Jun 22 '09, 05:24 AM

I am an investor in Detroit near Grosse Pointe and am looking for fellow investors. My partner and I have bought and sold around 70 houses this past year and have the area down to a science. If anyone is looking to purchase an investment property in this area feel free to message me.

Typical Deal

1. $29,000 Purchase
2. $12,000 Rehab
3. Recent Appraisal supporting 120,000 ARV
4. Full System to Rehab in 4 weeks
5. 40%-80% Cash on Cash Return
6. Systems in place to Sell property at Retail

Edited: 06/26/2010 at 08:41AM


Scott M.

Real Estate Investor · Rochester Hills, Michigan


Forum_avatar_avatar-scottmac

Jun 22 '09, 11:48 AM

If your investing in Detroit VS Grosse Pointe you are not getting $120K appraisals - or if you are they are not real or they are not recent.

For sure not appraisals that are HVCC.

Edited: 06/26/2010 at 08:41AM




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