Metro Detroit Rental Success
City- Oak Park, Michigan
Purchase- 85,000 from a wholesaler.
Rehab- 26,000 plus 3,000 allocated company overhead
ARV- 180,000
Rent- $1600/month
I'm very happy how this one turned out! I purchased it while rehabbing a nearly identical home across the street (I picked that one up for 60k.) I own three homes a few blocks over. Those homes are bigger yet only get $1,150/month with long term tenants. Time to up some rents!
