Ann Arbor Michigan fixer upper

8 Replies

Investment Info:

Single-family residence fix & flip investment in Ann Arbor.

Purchase price: $225,000

Buying this little 3/1 in Ann Arbor with a plan to fix it up and flip it or rent it out, whichever seems best

What made you interested in investing in this type of deal?

Solid price

How did you find this deal and how did you negotiate it?

Craigslist. Reached out to owner, toured property, then made an offer.

How did you finance this deal?

Will be land contract with 3 month term to allow for renovation, then BRRRR it

How did you add value to the deal?

Reno

What was the outcome?

We'll see

Lessons learned? Challenges?

We'll see

Originally posted by @Andrew Alson :

Congratulations on your investment, Joshua. I’ll be following your progress! Best of luck.

 Don't have a buyer yet so if you know of anyone looking let me know. Also open to wholetailing it.

@Joshua Birk be careful on you brrr if buying with a land contract. Females guidelines es will only let you take cash out when refinancing to payoff a land contract. And you will typically need 6 months seasoning from the time you refi land contract to do a cash out loan.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here