Potential Flip Numbers

Purchase Price - 27,000
Facilitation fees - 3,000
Rehab - 20,000 to 23,000 (high end Kitchen & Bathroom and updating Plumbing/Electrical)
However, assessing roof currently - may need a shingle over.
3 Bed 1 Bath ranch - 22971 Leewin St Detroit

-----------
Expected Sale Value - 90,000 - 110,000



2 nearby comparable Sales in the 0.25 mile radius supporting 100K
Fingers crossed. Investor's Delight.
Expected Project duration - 14-16 weeks (from Purchase to Sale)

 

Have always been fascinated how they do their roofs (love how they pronounce ruf there as well), so would be interested to see that from the technical POV if you do have to re shingle.
Looks like a ripper project if those numbers hold.

 

Numbers look good.

Would you use the 1031 exchange when selling, so no CGT, rinse and repeat??

MTR

 

Absolutely, 1031 exchange is boon to investors who have their money move into the next deal without a CGT

Rinse and repeat exponentially!

Many savvy US investors (yourself included) have used this effectively.

Makes sense to avoid Capital Gains when the funds are on a perpetual rollover to the next deal.