Flip #3 in a series of 3 blogs: 91% return in 52 days
15361 Sorrento, West Side Detroit ~ Sometimes good things happen fast. In this business, you have to be prepared to act and react if you want a return on your investment.
That’s what we did to add $34,775 to our pockets in less than two months.
A single month. One month. That’s all it took to buy, clean up, and put a three-unit on the west side at 15361 Sorrento under contract with our end buyer. They closed in a few weeks. 52 days from start to finish.
With two one-bedroom units on the upper level and one two-bedroom downstairs, this property was ripe for the picking. We acquired it, made minor repairs, kept a paying tenant on the first floor and found paying tenants for the units upstairs.
Then we said goodbye to the brick Tudor 2,116-square-foot triplex and sold it for $73,005. That's 91% on our investment of $38,230 total. Acquisition of $37,000 with $1,230 in repairs.
Our tale of three flips is the bread-and-butter of this business. This is what we do. All three of these were funded with money from our partners. All three involved different partnerships.
All three yielded profits and incredible ROI of 91% in 52 days, for an APY of 9,277%.
This is what’s happening now in Detroit. We’ve been riding the wave of revitalization in the Motor City for years, but if you think Detroit is done, it’s not.
There’s huge swaths of the city that have not even begun to appreciate, areas that will recover. The stories of the last three blogs are areas in the midst of recovery.
So much of Detroit is undervalued. While we’ve seen a huge amount of this city recover – and we know a huge amount won’t ever come back – we do know that there are properties to have and money to make. It’s not too late to get in on the wave of Detroit’s comeback.
And if you do it with us, you’ll be safer and happier than if you try it alone.
We buy properties in areas that have started to show data that reflects what we know – that these are areas that are going to recover.
We know the city’s 50-year use plan, we know the government’s targeting of census tracts for federal and state funds, we know what’s going on with the hip and the young people driving change in the city.
And, we know what’s going on with large investment trends in the city. We don’t buy in areas based on speculation.
We only buy in areas proven to start an appreciation surge that will curve into recovery.
You don’t want to buy where no one is buying. You buy where there is interest, and interest is increasing. That’s what we do.