This 3-bed, 1.5-bath, 1,386-square-foot property is in a small neighborhood called Shulze, located right next to one of Detroit’s most popular residential areas, Bagley. It is just a short drive from Sinai-Grace Hospital.
- Acquisition Date: August 16, 2024
- Acquisition Price: $90,000
- Capital Expenditures (CapEx): $35,000
- Potential Rent: $1,400 per month
- After Repair Value (ARV): $160,000 to $192,000
The MTMA Team works closely with its strategic partner, Own It Detroit – Mutual Property Management. This relationship with Detroit’s largest property management company allows us to locate unlisted properties with potential, assess them before purchase, and seamlessly assign work orders to the repair crew upon acquisition.
A typical residential real estate acquisition fund does not have this ground-up approach. At MTMA, every member of the General Partner personally participates in the underwriting of each acquisition. One member always walks the properties to be purchased, sometimes more than once.
Our distinct approach allows the Team to excel in many areas:
- Identify undervalued properties not listed on the MLS
- Maximize property potential immediately upon acquisition
- Complete repairs within a typical 3-month window
- Place well-screened tenants in as little as one month
- Manage the property at an exceptionally high rental collection rate
- A tenant-friendly management approach that minimizes turnover
The entire process captures equity at multiple stages: at purchase, at repair completion, when it is rented out, and throughout careful property management, ensuring long-term value creation both in terms of cash-on-cash return, and long term equity growth.
We take pride in the MTMA difference, so our investors can focus on what’s important.