#21 Rental property closed yesterday!
Closed yesterday, 3 bed 1 bath Bungalow with a basement/garage in Redford Michigan.
Redford is a suburb of Detroit, close to Westland / Livonia / Dearborn / Garden City / Canton / Plymouth area.
Paid $58k. Went under contract back in August, was tied up in Bankruptcy court and took a long time to close.
I paid cash and am going to refi cash out with a local credit union once it is fixed up and leased out, then buy another house with the $$$. Classic BRRRR method. Should appraise for about $90k
Needs a roof and a few other things. About $10-15k in rehab, already started going full blast on the rehab day of closing!
Here are some pics
Most Popular Reply
Hi Keith, Congrats and thanks for sharing. I️ just started out investing in the Northeast Ohio area back in August. Currently have 2 single family homes and working on a 3rd by the end of the year.
I’m learning a lot from these forums. Please keep on sharing the good, bad and ugly of your investing experiences.
Wishing you much success!
Ryan