12/23/2018
π $20,000 4 beds/2 baths/
πΊ Flint, Michigan 1784 SQFT
- This property is an amazing investment opportunity located only a few minutes away from Hurley Medical Center and 3 State Colleges (Kettering University, UMF, and Mott Community College). Amazing Buy and hold or is also a great flip opportunity! There are no major repairs needed with the house other than some small cosmetic repairs. Now is the time to invest in to Flint Michigan!
Our Flip Anylasis:
After Repair Value $90,000
Cost of Resaleing 6% : $5,000
Renovation : $25,000
Equity : $33,500
4% holding Cost = $3,500
Closing Cost = $3,000 Est
Our Cash Price : $20,000
Investment Analysis :
Purchase price : $20k
Renovations: $25k
Holding Cost $3.5k
Total All In : $48,500 / $33,500 Equity = 69 % FLIP ROI
Rental Analysis :
$800 a Month
-$40 insurance
-$60 taxes
= $700 Net x 12 = $8,400
Purchase Price $20k Rental Renovation $10,000 Unexcited expense $5,000
ALL IN =$35,000 / $8,400 = 24 % Cap Rate
Our Cash price : $20,000