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LIVE Detroit Turnkey Property Tour | What’s it Worth?

Are you ready to take a tour of this turnkey investment property in Detroit, Michigan? This Detroit turnkey property tour was filmed originally filmed as a Facebook Live and broadcasted to our Turnkey Rental Properties Group. If you enjoyed this tour, be sure to join me on Facebook at
http://www.facebook.com/groups/turnkeyrentalproperties, and subscribe here on YouTube for more Turnkey tips and tours.

Details on this turnkey rental property:
– 3 bedroom / 1.5 bath
– 1248 sq ft
– basement
– 2 car garage
This property is located in the Schulze neighborhood on Detroit’s Northwest side and is one of the most densely populated neighborhoods in Detroit. Beautiful brick, colonial and bungalow properties line the streets and each home with its own unique character, perfect for first time buyers and young families. Some of the best educational institutions are located in this area, including University of Detroit Mercy, Marygrove college and U of D Jesuit High School.

The Math:

Purchase price: $140,000
Estimated rent: $1,350 (almost hits the 1% rule!)

Monthly expenses:
Property taxes: $97
Insurance: $50
Management: $122 (9% monthly rent)
Vacancy estimate (not deducted from income): $68
Maintenance estimate (not deducted from income): $68

Total monthly cash flow: $1,082 (with maintenance/vacancy $946)
Estimated mortgage payment (6.5% interest): $664

Take-home monthly cash flow after financing: $418 ($282 maintenance & vacancy)

Cap rate: 8.11%
Cash-on-cash return: 8.65%

Disclaimer: All information contained in this video is deemed reliable but not guaranteed. No warranties are made as to the accuracy of any descriptions and/or other details regarding the specific property presented and I make no guarantee, warranty or representation as to the property, seller, or the current or future performance of the property.

Are you interested in learning more about real estate investments and turnkey rental properties from an industry expert?

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For even more real estate investment tips, pick up my book on Amazon and check out more of the great resources linked below.

📚 NOT Your How-To Guide to Real Estate Investing: Life Lessons on Hacking Your Mind Before You Hack Your Wallet* https://amzn.to/3gLGRh1

📱 7 Rookie Real Estate Investing Mistakes & How to Avoid Them (FREE Digital Download) http://b.link/7-rookie-mistakes

🤝 Join the EXCLUSIVE Turnkey Rental Properties Facebook Group http://b.link/Turnkey-Properties-Facebook-Group

and find me online with Hipster Investments at https://www.hipsterinvestments.com the GO-TO website for turnkey rental property investing!

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