4212 Devonshire Rd Detroit Michigan 48224
Investment Info:
Single-family residence private money loan investment.
Purchase price: $38
Cash invested: $110
Appraised for $230k
Did a cash out refi for $167k
What made you interested in investing in this type of deal?
The numbers works and the area is appreciating in value
How did you find this deal and how did you negotiate it?
A local Realtor
How did you finance this deal?
Purchased with cashed and then used some private money for the rehab
How did you add value to the deal?
Total rehab from top to bottom
What was the outcome?
Successful! Did the Brrr method. This is one of a few we did
Lessons learned? Challenges?
We learned that the market we are investing in to stick with smaller brick bungalows and not take on these larger colonial that need so much work and make the same amount of profit
