97% return - 6 months - Fix and Flip - Detroit - GCG Real Estate
Investment Info:
Single-family residence fix & flip investment in Detroit, MI.
Purchase price: $15,000
Cash invested: $53,397
Sale price: $117,500
Contributors:
Vincent Ribes
Beautiful brick colonial for sale in Grandmont Rosedale neighborhood of Detroit.
Purchase Price : $15,000
Acquisition Fees (Closing Cost): $5,897.60
Renovation : $32,500
Total Amount of Investment : $53,397.60
Price Sold: $117,500
Closing Cost: $12,054.18
Net Profit: $52,048.22
Net Profitability: 97.47%
What made you interested in investing in this type of deal?
We know the market and we knew the opportunity.
How did you find this deal and how did you negotiate it?
A distressed deal from our network.
How did you finance this deal?
Cash
How did you add value to the deal?
$30k+ rehab.
