Before and After Tour and The Story Behind What it Took ACTUALLY!

There is a story with this house. A buyer beware story! This one was not a good money maker for us. The investor who bought it will do great on her investment though. This is one of those situations start to finish that takes a local touch.

We bought this house almost a year ago. Just buying it from the original owner was hours of negotiation and meeting with her in person to sign a purchase agreement. There was no way she was doing any transactions on that there internet! She was a character! We even got to know her adult daughter who had to approve of the transaction and verify to her mother that we are legitimate people not out there scamming anyone. Sadly, the daughter let us know that her mother passed away recently.

Along with the purchase of the house came a tenant paying well below market at $600/month. She was a sweet lady. A few months into it she was bedridden with a difficult pregnancy. She still paid rent. Then she had the baby, but slowly stopped paying rent. We don't think she ever left her bed. I had the worst time evicting her. I felt AWFUL! My feelings got in the way of doing this all a lot faster. We tried to offer her cash for keys but I think she was just too depressed to handle the thought of moving. We had to use the courts to get her out. When she left, she left it a typical mess for Detroit. Nothing unusual. The rice in the sink is a revenge move though, which I don't understand why. She had a good 5 months of free living off us.

The new tenant has an excellent Section 8 voucher for almost double what the previous tenant was paying. The new owner bought the house for $75,000 with around a 12% ROI. It's looking like the voucher will pay 100% of the rent, but Section 8 won't tell you that until after the tenant is moved in. The new family couldn't be nicer. During the application and move process, I even got to know the mother of the new tenant when the tenant ended up hospitalized. When we met in person on move-in day we were all hugging and smiling ear to ear. That's the fun part of my job. It's very fulfilling!