All Forum Posts by: Carson M.

@Juan Rivera, I have a few rental ready properties in Metro Detroit with solid management in place. B and C areas that see great cash flow. If you would like to learn more about the Metro Detroit Market and the properties I have for sale, feel free to reach out.

@Lisa Gould absolutely! Feel free to shoot me a message and let me know exactly what you’re looking for. I may be able to source some properties for you, help with rehabbing, and provide property management 

Here is a project that officially wrapped up today in Hazel Park, MI.  I will have to count, but this is close to the 50th home I have flipped in Hazel Park.

Buy- 95K

Rehab- 71.3K

Sale- 250K

Final Profit- 67,300

This was one of our larger rehabs.  Our typical rehab is 25-40K but this house needed everything interior.  

The home was sourced from a local investor that purchased it for 75K and sold it to me for 95K.  Going in, I was expecting to spend closer to 55K in rehab and sell for 200-225K.  I realized I could push the comps and took a calculated risk of going the extra mile and spending an addition 10-15K.  

The home went under contract before I finished the rehab (hence the non professional photos) for 280K.  A low appraisal brought the price down to 250K, which I was OK with.  

Scope of work included all new plumbing, electrical, lots and lots of framing to open walls and reconfigure rooms, drywall and plaster work,  lots of trim work to try and match the existing older trim, new baths, kitchen, etc.  

This is the highest sale price I've had.  Most of my sales are in the 100-150K range.  We have started a new program offering rent ready/ tenant occupied homes to investors and we can provide property management.  All of our turnkey opportunities in Metro Detroit meet or exceed the 1% rule and have met our rehab standards.  

Danny, I sell turnkey properties in metro Detroit. Feel free to shoot me a message and we can further discuss

@Magnus Göransson

Very nice! If you’re looking to buy more, feel free to reach out. I have one available in warren and one available in Eastpointe.

@Magnus Göransson are all 10 of your homes in the city or are any in the suburbs?

What are you looking for, exactly? Flip, rental, location?

In Detroit itself or the suburbs?

@Chase Dolan I have flipped around 60 properties in metro Detroit and own 67 rental units. I am shifting my focus to providing turnkey investment properties and management to investors. Feel free to reach out if you have any questions. 

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!