Bloomfield hills Wholesale or Fix & Flip Oppertunity

HaveFinancingPrivate Money
Classifieds

Bloomfield hills Wholesale or Fix & Flip Oppertunity

Real Estate Agent · Farmington Hills, MI · Member since 2016 · 38 posts · 5 votes

I'm reaching out to see if your interested in purchasing a light rehab in Bloomfield hills. I have a Report Summary of the Deal, the numbers are aimed more on the higher side mainly rehab cost( My team could probably do rehab at a lower cost) and the median value was lowered to make sure the deal would still work. I'm going out to view the property today at 3pm. This deal will go fast because there is more than easy 70k+ profit , They reached back out to me, but I know I won't be the only one viewing it today...How do we make this work. Hope to hear from you thanks! Please inbox for details, if i'm not posting this properly please excuse me ,I'm still sort of new.

0Reply
11 views

2 Replies

Jump to latestLatest
  • Flipper/Rehabber · Royal Oak, MI · Member since 2013 · 6 posts · 0 votes
    7y

    Arthur, do you have the property under contract?

  • Real Estate Agent · Farmington Hills, MI · Member since 2016 · 38 posts · 5 votes
    7y

    Thanks for Reaching out Robert. To answer your question no I do not have it under contract. I wanted to inspect the property before I placed an offer because I am still new ( although I do understand the rehab cost, I have a construction background). The owner is taking one week to accept offers from investors before he tries to put it on the MLS again. It flip-flopped the first time on him and he gave a two-hour window for viewing which I went and did yesterday. I knew I wanted to take action because I saw an opportunity. My B.L.O.Cs are recharging from my last rehab or I would have done it myself. I reached out to 4 other investors I know, I'm just trying to see if I can make something work. The owner sounds like he wants a firm 299k but I have to start off right around 250k after inspection, although the median value in the area is 410k. I have a detailed report of the property.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.