Total Investment
$87,237
Detroit · Fix & Flip · Sold
A $35,000 Detroit house, renovated and sold for $134,000.
One investor put up the capital. We sourced the house, brokered the purchase, ran the renovation with our in-house team, and sold it. Here is every number from the deal, fees included.
PROPERTY: 19xxx Stansbury, Detroit, MI · STRATEGY: Buy, renovate, sell
$35,000
Purchase
$52,237
Renovation
$134,000
Sale Price
19.5%
Investor Return
Sale Price
$134,000
Investor Return
$17,050
Outcome
Sold
The Finished House
A brick Cape Cod, renovated and ready for a buyer.
Listing photos of the finished renovation. The work shows in every room: kitchen, floors, paint, lighting, and the street-facing exterior buyers see first.
The Deal
The profit in a flip is set the day you buy.
19xxx Stansbury was bought for $35,000. That entry price is the whole story. A low basis left room for a full renovation and every selling cost, with a profit still on the other side.
The project ran on a simple split. The investor funded the project, purchase and renovation, in exchange for 50% of the profit. Our in-house flip specialist managed the renovation for the other 50%. A consultant fee covered deal sourcing and property selection, and our brokerage handled the purchase and sale.
You don't make money on a flip when you sell it. You make it when you buy at the right price and keep the renovation on budget.
The renovation came in at $52,237, bringing the total investment to $87,237. The finished house sold for $134,000.
The Numbers
What went in, and what came out.
Figures from the project's investor presentation. Selling costs are shown as a percentage of the sale price, the way the deal was underwritten.
Capital In
| Purchase priceAcquired through our brokerage | $35,000 |
| RenovationRun by our in-house flip specialist | $52,237 |
| Total Investment | $87,237 |
Sale and Costs
| Sale price | $134,000 |
| Realtor feesPercentage of sale price | 6% |
| Closing costsPercentage of sale price | 2% |
| Consulting feeDeal sourcing and property selection | $2,500 |
| Investor ReturnInvestor's 50% share of profit | $17,050 |
Spread
Sale price minus total investment
$46,763
Before realtor fees, closing costs, and the consulting fee
Investor Return
The investor's 50% share of profit
19.5%
$17,050 on $87,237 of capital
Entry Price
Purchase as a share of sale price
26%
The low basis is what left room for a full renovation
Reading This Honestly
What decides whether a Detroit flip makes money.
This one worked. Flips can also lose money. Three things decide which way it goes.
Entry price
Buy too high and no renovation saves the deal. Here the purchase was about a quarter of the eventual sale price.
Cost control
Renovation overruns come straight out of profit. An in-house team that prices its own work keeps the budget honest.
Timeline
Every month a house sits costs taxes, insurance, utilities, and capital. A slow renovation or a slow sale eats the margin.
The Great Lakes PMG Flip Process
We handle the flip. You provide the capital.
The same four steps ran this project, with one team from purchase to sale.
1
Market analysis
We find well-located, undervalued Detroit houses with real value-add potential, and run the resale comps before anyone makes an offer.
2
Acquisition through our brokerage
Great Lakes PMG is a licensed real estate brokerage. We walk you through the purchase, from offer to closing.
3
Renovation by our in-house flip specialist
Our own renovation team scopes and runs the rehab, aiming for the highest after-repair value the street will support without overbuilding.
4
Sell and realize the return
We list, market, and sell the finished house. You fund the project; the profit is split by the deal terms agreed up front.
Next Steps
Pressure-test a flip before you fund one.
Talk through a flip
Book a call to walk through budget, timeline, and the kind of house that fits.
Book a call →
Investment consulting
Sourcing, acquisition, renovation, and exit for Detroit investors, local or out of state.
See how consulting works →
Run your own numbers
Plug in a purchase price, rehab budget, and resale value to see what a flip leaves after costs.
Open the fix-and-flip calculator →
Thinking about funding a Detroit flip?
We find the house, broker the purchase, run the renovation with our own team, and sell it. Managing Member Clarence Archibald III has completed 250+ property rehabs since Great Lakes PMG opened in 2006.
Book an Investor ConsultationGreat Lakes Property Management Group, LLC · Detroit, Michigan · greatlakespmg.com