Michigan SFR fire sale!!

12 Replies

Price $25,000
Location see below, see below, MI, see below
Property Details

Single Family Residence

  • Current Rent: $0
  • Square Footage:
  • Bedrooms: 3
  • Bathrooms: 2.0
  • Occupied: No
  • Lot Size:

I participated in a syndicated loan deal involving the purchase of several SFRs across the nation. The borrower was supposed to rehab and re-sell or wholesale the properties. However, this has not happened and the loan is now in default. While the syndication is seeking to collect on the debt, we are also attempting to find buyers to purchase the properties short of foreclosure. The syndication’s lien is in first position on each property.

DISCLAIMER: I do not own the property, but can forward any offers to purchase to the seller (borrower).

Here is a list of the MI properties:

598 Broadway Avenue Benton Harbor 49022 Michigan

335 Norman Street Caro 48723 Michigan

2229 Emmons Avenue Warren 48091 Michigan

10585 North Lake Road Ironwood 49938 Michigan

1047 North Wood Street Muskegon 49442 Michigan

2924 7th Street Muskegon Heights 49444 Michigan

1501 Lake Forest Drive Flint 48504 Michigan

1735 Prospect Street Flint 48504 Michigan

2001 Mallery Street Flint 48504 Michigan

2907 Mason Street Flint 48505 Michigan

475 South State Road Otisville 48463 Michigan

204 Beulah Avenue Battle Creek 49037 Michigan

34 Maple Terrace Battle Creek 49017 Michigan

99 Clay Street Battle Creek 49017 Michigan

13744 Fenelon Street Hamtramck 48212 Michigan

26006 Dartmouth Street Inkster 48141 Michigan

26142 Stanford Street Inkster 48141 Michigan

26200 Stanford Street Inkster 48141 Michigan

26733 Andover Street Inkster 48141 Michigan

27052 Norfolk Street Inkster 48141 Michigan

28661 Glenwood Street Inkster 48141 Michigan

3416 Henry Street Inkster 48141 Michigan

3555 Spruce Street Inkster 48141 Michigan

3561 Allen Street Inkster 48141 Michigan

4044 Allen Street Inkster 48141 Michigan

4346 Allen Street Inkster 48141 Michigan

Pricing: At least $25,000 per property. The price must be as close to fair market value as possible for the syndication to release its lien on the property. If you purchase more properties, a lower price per property is possible. Make an offer!

Frankly, I have little specific information about each property. However, I have informal appraisals of the following MI properties, available upon request:

1047 North Wood Street Muskegon 49442

26006 Dartmouth Street Inkster 48141

Other properties are available across the nation. The properties in other states are as follows:

3700 Raceway Parkway Mount Olive 35117 AL

3257 Dogwood Road Mobile 36605 AL

17415 Highway 55 Sterrett 35147 AL

1312 Princeton Avenue Southwest Birmingham 35211 AL

1656 50th Street Ensley Birmingham 35208 AL

5409 Court H Birmingham 35208 AL

7016 2nd Avenue South Birmingham 35206 AL

7804 8th Avenue South Birmingham 35206 AL

828 Overton Avenue Tarrant 35217 AL

1509 West 23rd Avenue Pine Bluff 71603 AR

55 Valley Heart Drive Highland 72542 AR

2005 Abigail Street Little Rock 72204 AR

4011 West 11th Street Pine Bluff 71603 AR

2443 Elm Drive Columbus 31907 Georgia

255 Friendship Circle Fort Valley 31030 Georgia

485 Carlyene Drive Midway 31320 Georgia

1511 7th Street Rock Island 61201 Illinois

316 North Horn Street West Frankfort 62896 Illinois

713 South Walnut Street Sesser 62884 Illinois

1508 Park Lane Ford Heights 60411 Illinois

254 East 136th Street Chicago 60827 Illinois

3919 West Grenshaw Street Chicago 60624 Illinois

5949 South Union Avenue Chicago 60621 Illinois

6948 Carpenter Street Chicago 60621 Illinois

6525 South Marshfield Avenue Chicago 60636 Illinois

8345 South Baltimore Avenue Chicago 60617 Illinois

1326 North Ewing Street Indianapolis 46201 Indiana

1619 West 6th Street Anderson 46016 Indiana

455 West Hendricks Street Shelbyville 46176 Indiana

830 East 26th Street Marion 46953 Indiana

1929 Roosevelt Place Gary 46404 Indiana

1976 Massachusetts Street Gary 46407 Indiana

2652 Buchanan Street Gary 46407 Indiana

2749 Jackson Street Gary 46407 Indiana

3861 Polk Street Gary 46408 Indiana

3801 Pennsylvania Street Gary 46409 Indiana

4456 Pennsylvania Street Gary 46409 Indiana

4630 East 10th Avenue Gary 46403 Indiana

4832 West 11th Avenue Gary 46406 Indiana

602 Mississippi Street Gary 46402 Indiana

606 Dundee Street South Bend 46619 Indiana

805 Leland Avenue South Bend 46616 Indiana

307 4th Avenue Earling 51530 Iowa

800 Colver Street Muscatine 52761 Iowa

918 West 14th Street Davenport 52804 Iowa

323 North 20th Street Louisville 40203 Kentucky

126 Billedeau Drive Pineville 71360 Louisiana

12670 Carroll Drive Amite 70422 Louisiana

57758 Grove Road Plaquemine 70764 Louisiana

72381 Dahlia Street Covington 70433 Louisiana

113 Franklin Street Hancock 21750 Maryland

2916 West Lafayette Avenue Baltimore 21216 Maryland

157 West Madison Street Durant 39063 Mississippi

174 Road Of Remembrance Jackson 39209 Mississippi

2522 Jefferson Street Pascagoula 39567 Mississippi

390 Sweet Gum Bottom Road Meridian 39301 Mississippi

504 Mitchell Street Picayune 39466 Mississippi

54 Trest Road Heidelberg 39439 Mississippi

603 111th Street Armory 38821 Mississippi

2813 Marydale Drive Jackson 39212 Mississippi

913 Winn Street Jackson 39204 Mississippi

1016 Central Street Joplin 64801 Missouri

105 Bell Street Excelsior Springs 64024 Missouri

13552 East Sunrise Lake Drive De Soto 63020 Missouri

13841 Apache Way Greentop 63546 Missouri

2019 Montgall Avenue Kansas City 64127 Missouri

33212 Circle Drive Sunrise Beach 65079 Missouri

3118 Whittier Street St. Louis 63115 Missouri

4857 Palm Street St. Louis 63115 Missouri

4912 Arlington Avenue St. Louis 63120 Missouri

5811 Theodore Avenue St. Louis 63120 Missouri

2925 Lyndhurst Avenue St. Louis 63121 Missouri

8451 Lowell Street St. Louis 63147 Missouri

8846 Bobb Avenue St. Louis 63114 Missouri

125 Patsy Lemons Lane Lillington 27546 North Carolina

172 Highway 158 West Gatesville 27938 North Carolina

3823 Hanford Road Durham 27703 North Carolina

411 Peru Rd Morven 28119 North Carolina

1111 West Riverview Avenue Dayton 45402 Ohio

62 South Garfield Street Dayton 45403 Ohio

304 Clover Street Dayton 45410 Ohio

1128 Mansion Avenue Cincinnati 45205 Ohio

1216 Gilsey Avenue Cincinnati 45205 Ohio

1342 South Street Southeast Warren 44483 Ohio

2817 Northwest Merriweather Street Warren 44485 Ohio

221 Curry Place Youngstown 44504 Ohio

3432 Hudson Avenue Youngstown 44511 Ohio

11405 Melba Avenue Cleveland 44104 Ohio

1170 - 1172 Oakwood Avenue Columbus 43206 Ohio

141 School Street La Rue 43332 Ohio

14612 Orinoco Avenue East Cleveland 44112 Ohio

250 Helen Avenue Mansfield 44903 Ohio

3103 County Road N30 Edon 43518 Ohio

996-998 Main Street Wellsville 43968 Ohio

221 South Main Street Okeene 73763 Oklahoma

2172 Jewell Ridge Rd Richlands 24641 Virginia

29042 US Highway 23 Big Stone Gap 24219 Virginia

935 Blankenship Road Martinsville 24112 Virginia

339 Green Valley Drive Saint Albans 25177 West Virginia

2854 North 28th Street Milwaukee 53210 Wisconsin

2917 North 16th Street Milwaukee 53206 Wisconsin

GLWS, I viewed a few properties in some markets I follow.  These are some tough areas and even rougher homes.  I would throw out a realistic package deal on smaller portfolios and take what I can get while these areas are still in a top heavy market. Some of these homes in the down turn were selling for nothing 1500-2500.  As banks and sellers just wanted to give them away to avoid the tax liability. 

Originally posted by @Rebecca Holmes:

Would you email me more information on the two Milwaukee properties, [email protected]

2854 North 28th Street Milwaukee 53210 Wisconsin

2917 North 16th Street Milwaukee 53206 Wisconsin

28th st was an old hubzu action and 16th st from google maps appears to have been harvested, all the way down to the metal siding. 

@Jay Leisten - Unfortunately, I don't have any additional info on the property other than what you would find on Zillow.com.  I would suggest running some numbers on it and making an offer for what you feel it's worth.  

@ Bob E. -

2854 North 28th Street Milwaukee 53210 Wisconsin

2917 North 16th Street Milwaukee 53206 Wisconsin

See the comments above by other shoppers about these properties.

Interested in 1047 North Wood Street Muskegon 49442.  Familiar with the area.  Would like to see the informal appraisal.  Low value high crime area  from my understanding.  

Thanks

@Ryan Fox i am interested in 

2916 West Lafayette Avenue Baltimore 21216 Maryland

Since the syndication does not own these properties how would we proceed.?

Hi Ryan

Do you still have

26006 Dartmouth Street Inkster 48141 Michigan

26142 Stanford Street Inkster 48141 Michigan

26200 Stanford Street Inkster 48141 Michigan

26733 Andover Street Inkster 48141 Michigan

and any of the rest in inkster?

Jack  

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