Joseph Wyn
Grand Rapids, MI (USA)
Role(s):
Founder/Owner/Principal
Realty Investors Group, LLC
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Startup
Location:
Grand Rapids
Industry:
Real Estate
Year Founded:
1997
Number Employees:
1-10 people
Description:
Realty Investors Group, LLC owns 3 single family homes and 1 duplex in Grand Rapids. we have been in the residential renting business for 10 years. We desire to grow our property investments with the purchase of two 4-unit apt buildings adjacent to each other and which share the same parking lot. These units can be purchased for approximately $50,000 each and will also require $50,000 each in improvements. These properties are undervalued becuase of the high forclosure market in the area. Each property can be purchased and reahabilitated for a total of $100,000, and generate gross cash flows each of $2,000 per month. Similar properties in good to excellant shape sell for $130,000.