While I always have my eyes open for a good deal on a potential rental property, I am still shocked at the number of opportunities that fall into my lap. I don’t have enough money to take advantage of all of them, but when I do have money sitting around that I can invest, I make sure to use it.
About two weeks ago, I came across a great deal on a property in Plymouth, Michigan. It was listed below market cost, so I knew that there was going to be some kind of issue, but I went out to take a look anyway.
After looking at the property, I bought it. The only issue was there was a leak in the roof that had damaged some of the ceiling inside the home, but I figured that it would be an easy enough fix. We knew some good roofing contractors Plymouth Michigan that we had worked with in the past, so we decided to make an offer on it.
It was accepted, and we just received the last of the paperwork two days ago.
Today we have the roofing contractors out working on the home, and if everything goes well, it should be done by this evening. That will leave us time to fix up the interior this weekend, and have it rent-ready by the first of June.