Introducing Faust Avenue - Rosedale Park, Detroit

This will be my second flip since establishing ComfyQuarters. Curie Court was a moderate success since my margins were tight, but I learned a great deal and there is a very happy couple as a result.

I'm satisfied with my first flip but I'm excited to do even better on this project!

This is the view of the house from the street:





I first saw this home while attending a Foreclosure Bus Tour hosted by Mark Ijlal on a Saturday afternoon two weeks ago (May 31). William (Will) Curry of Fourth Dynasty Enterprise, LLC was one of Mark Ijlal's expert guests and Will was walking through the home with the group and explaining what improvements he thought would be best to bring this property back to life and put it back on the market for a quick sale.

On Monday morning following this tour, I called Nora Ijlal for the contact information of the listing agent for this property, Jay Alhashemy, so that I could place an offer on this home. I didn't know it at the time, but a young woman also on the bus tour also put in a bid on this property and we ended up in a bidding war over this home.

It turned out that I wasn't willing to go past a certain price point and she actually out bid me by only $1,100 -- so she got the house. A couple days after I was given the bad news that I lost the house to one of my fellow club members, I got a call from Jay. He informed me that although her offer was accepted she was unable to raise the cash needed to actually close the deal so I got the house, instead.

The moral of this story is that you need patience! I did have several offers out on other properties, though. You can't put offers on one property at a time and wait to see if you get it. You have to put offers on several at a time till one is accepted. I withdrew my offers on two other properties when Faust was accepted, but I still have an offer out on a home in Mt. Clemens that I think will make a great rental investment. In fact, I already have a tenant lined up so I really need to get that property. I'll share more on that one if I am able to win the bidding war on it.

Now, back to Faust. Walk through this house with me (virtually) and see if you can see the great potential as we talk about it ...

FIRST FLOOR


SECOND FLOOR