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.
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
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#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
What are you plans for the next one?
Got another one you can sell me? 😎
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 😉
Thomas
Quote from @Nate Sanow:
Got another one you can sell me? 😎
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 😎
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 😉, 50-50 on the profits.
Cheers
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
- 3,647
- Votes |
- 7,047
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#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
@Thomas Rogge you may want to look at our profile before soliciting us:)