Detroit Rental Property

[Rodney Brown]

Investment Info:

Single-family residence buy & hold investment in Detroit.

Purchase price: $17,000
Cash invested: $24,000

Own free and clear, rents at 800/mo

What made you interested in investing in this type of deal?

Cashflow's best in the Midwest.

How did you find this deal and how did you negotiate it?

Wholesaler

How did you finance this deal?

Cash

How did you add value to the deal?

$7k rehab to get rent ready and added 3rd bedroom upstairs.

[Rodney Brown]

Originally posted by @Timothy Moore:

Congrats Rodney, that looks like a pretty strong acquisition! 

Which zip / neighborhood did you invest in?

What was your cash out ARV?

48228, Warrendale

ARV is 35k-40k