Updated about 10 years ago on . Most recent reply
#27 rental purchased today
I closed on this one yesterday, located in Garden City, Michigan. Close to dearborn heights, livonia and westland.. It's a bungalow and i normally do not buy bungalows, but i really liked this one.
It came on the market for 60k. i offered 53 cash, it was a probate+bankruptcy (heir was going through bankrupcy at the time of the dad's death) sale, so they took it.
1 weeks before closing the copper pipe was stolen, so i got a $1,500 credit, which i took. so, the house came out to $51.500. It has hardwood upstairs, which i have never, even seen in a bungalow before. It's ARV in the high 80k's, but i really dont care since it's a rental. It's in very good condition, but we will make it nice and rent it for $1,050 per month.
the roof will need to be replaced soon, but we can live with just fixing a few bad spots. might change it before the end of the year, will see.
i do not have inside pics, so here's just one exterior pic.
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Great job George! Congratulations!!