97% return - 6 months - Fix and Flip - Detroit - GCG Real Estate

Real Estate Deal Analysis & Advice
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97% return - 6 months - Fix and Flip - Detroit - GCG Real Estate

Thomas Rogge
Dubai 路 Member since 2022 路 10 posts 路 3 votes

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.

1Reply
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Most Popular Reply

Nate Sanow
I鈥媙vestor & Agent 路 Tulsa, OK 路 Member since 2016 路 1k+ posts 路 1k+ votes
3y

Got another one you can sell me? 馃槑

1Reply
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  • Drew SygitBusiness Member
    Property Manager 路 Royal Oak, MI 路 Member since 2012 路 13k+ posts 路 9k+ votes
    3y

    What are you plans for the next one?

    [email protected]248-209-6824
    Logical Property Management4.9462 Reviews
    WebsiteView Page
    1Reply
  • Nate Sanow
    I鈥媙vestor & Agent 路 Tulsa, OK 路 Member since 2016 路 1k+ posts 路 1k+ votes
    3y

    Got another one you can sell me? 馃槑

    1Reply
  • Thomas Rogge
    OP
    Dubai 路 Member since 2022 路 10 posts 路 3 votes
    3y
    Quote from @Drew Sygit:

    What are you plans for the next one?

    Hey Drew, 

    We have several investments in progress at the moment.
    The current project we have that I find most exciting is a construction project in New York State, a mixed-use building construction in 2 phases, for a total amount of 122M.
    By the way, only $5M of equity is still available, so it's now or never.
    Otherwise we continue to have fix and flip operations in Detroit on which we are deploying in budgets between $100k and $650k.

    Feel free to reach out to me to know more 馃槈
    Thomas

    0Reply
  • Thomas Rogge
    OP
    Dubai 路 Member since 2022 路 10 posts 路 3 votes
    3y
    Quote from @Nate Sanow:

    Got another one you can sell me? 馃槑


     Hi Nate, 

    Sure, we have an investment vehicle named Club Invest where we split the profit 50-50 with the investor. We handle everything from A to Z. 

    Feel free to reach out to me to know more 馃槑

    0Reply
  • Thomas Rogge
    OP
    Dubai 路 Member since 2022 路 10 posts 路 3 votes
    3y
    Quote from @Drew Sygit:

    What are you plans for the next one?

    Hi @Drew Sygit, 
    This is the next one, let me know if you want to seize this opportunity 馃槈, 50-50 on the profits. 
    Cheers

    0Reply
  • Drew SygitBusiness Member
    Property Manager 路 Royal Oak, MI 路 Member since 2012 路 13k+ posts 路 9k+ votes
    3y

    @Thomas Rogge you may want to look at our profile before soliciting us:)

    [email protected]248-209-6824
    Logical Property Management4.9462 Reviews
    WebsiteView Page
    0Reply
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