My $7,000 Rental Rehab

Buying & Selling Real Estate
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My $7,000 Rental Rehab

Marisa R.
Developer · Atlanta and Detroit · Member since 2018 · 601 posts · 821 votes

Hi Everyone

This is my $7000 rehab, I call it my rental rehab not retail rehab where perhaps a higher standard is required when selling.

This home is around 1450 sq ft. 

I purchased this for $36,000 and rent is around $950-1000 pm

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Michael CrossPro Member
Rental Property Investor · Smithsburg, MD · Member since 2016 · 58 posts · 41 votes
8y

Marisa,

Thats practically the 3% rule, well done. Is that property in Atlanta or Detroit? How extensive was the rehab - it seems you refinished the floors, what else did you have to do in that $7,000?

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  • Marisa R.
    OP
    Developer · Atlanta and Detroit · Member since 2018 · 601 posts · 821 votes
    7y
    Originally posted by @Gary Carver:

    @Marisa R.  Congrats and continued success. Great deal

    Thanks Gary

    Always looking for the next deal:)

    0Reply
  • Rafie Ahmed
    Sterling Heights, MI · Member since 2016 · 37 posts · 19 votes
    7y

    @Marisa R. 

    your contractor rates are really good are you open to talk about other rehab projects? 

    0Reply
  • Marisa R.
    OP
    Developer · Atlanta and Detroit · Member since 2018 · 601 posts · 821 votes
    7y
    Originally posted by @Rafie Ahmed:

    @Marisa R. 

    your contractor rates are really good are you open to talk about other rehab projects? 

    Yes, contract rates have been excellent. I will post some of my other deals soon to give an idea.

    Its hard to find contractors at these rates no doubt.

    1Reply
  • Rafie Ahmed
    Sterling Heights, MI · Member since 2016 · 37 posts · 19 votes
    7y

    @Marisa R. appreciate the assist. 

    1Reply
  • Hai Loc
    Specialist · Toronto, Ontario · Member since 2012 · 2k+ posts · 891 votes
    7y
    Marisa R. You need to hook me up with your contractors
    1Reply
  • Marisa R.
    OP
    Developer · Atlanta and Detroit · Member since 2018 · 601 posts · 821 votes
    7y

    OK, update on this property

    Been rented out now for some time great tenant, just shows dont believe all the negative news about Detroit

    15.5% net returns

    1Reply
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