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Detroit Real Estate Forum

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Cynthia Miller
  • Dearborn, MI
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Assignment in detroit good spread

Cynthia Miller
  • Dearborn, MI
Posted Oct 19 2018, 15:18

Hi everyone im not sure if. Its ok to post deals here. 

I ran across a big 2 story brick in detroit near grand river and  west outer. I havent considered doing a flip in detroit but comps looked good and i have it under.contract cheap. I already have a contractors bid. 

I am trying to fund with a HML but after paying $650 for an evaluation i think im going to get low balled as 2 of 3 BPO came back much lower than the sold comps pulled by my realtor.

If i cant make this work maybe someome else can who doesnt need HM. If your a contractor and

can do the work yourself its even a sweeter deal. Even with the HML low evaluation there is still money to be made but this particilar lender wants about $10k just to do the loan.