Above the crowd

18245 Lenore Ave.

Detroit, MI. 48219

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Table of Contents: Property Details ...................................................................................................................................................................... 3

Basic Property Information ................................................................................................................................................. 3

Area Property Information .................................................................................................................................................. 3

Sold Comps ....................................................................................................................................................................................................... 3

Rental Comps ................................................................................................................................................................................................... 3

Exterior ................................................................................................................................................................................ 4

Roof & Siding ................................................................................................................................................................................................... 4

Other ................................................................................................................................................................................................................... 4

Interior ................................................................................................................................................................................ 4

General ............................................................................................................................................................................................................... 4

Walls .................................................................................................................................................................................................................... 4

Floors .................................................................................................................................................................................................................. 4

Kitchen ............................................................................................................................................................................................................... 4

Bathrooms ........................................................................................................................................................................................................ 4

Electrical ............................................................................................................................................................................................................ 4

HVAC ................................................................................................................................................................................................................... 4

Doors ................................................................................................................................................................................................................... 4

Summary ............................................................................................................................................................................. 4

Pictures ................................................................................................................................................................................... 5

Exterior Pictures .................................................................................................................................................................. 5

Interior Pictures .................................................................................................................................................................. 6

Rehab Detroit Closing Process ................................................................................................................................................ 7

Making an offer ................................................................................................................................................................... 7

Once your offer is accepted ................................................................................................................................................ 7

Assignment of Contract .......................................................................................................................................................... 8

Contact Information ................................................................................................................................................................ 9

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Property Details

Basic Property Information

Special Features: This is a well taken care of 2 bedroom 1 bathroom single family home located in the “The Eye” neighborhood of Detroit. The current owner has been living in the property since 1984 and has done a lot to take care of the home since then. The house does have all utilities but its recommended that the furnace is replaced. Roof is new in 2016. All debris will be removed by the current owner prior to closing.

Area Property Information

Sold Comps ** All information should be verified by the buyers.

Address: 18264 Lenore 16196 Woodbine St. 17203 Lenore 18740 Codding St.

Detroit, MI. 48219 Detroit, MI. 48219 Detroit, MI. 48219 Detroit, MI. 48219

Bedrooms: 2 2 2 2

Bathrooms: 1 1.1 1 1

Square Footage: 912 982 1,135 1,035

Garage: Yes – 1 car Yes – 1 Car Yes – 2 Car Yes – 2 Car

Basement: Yes Yes Yes Yes

Sold Price: $40,000 $46,000 $46,600 $56,500

DOM: 3 19 22 49

Rental Comps ** All information should be verified by the buyers.

Address: 17628 Woodbine St. 16241 Salem St. 19367 Dale St. 16521 Salem St.

Detroit, MI. 48219 Detroit, MI. 48219 Detroit, MI. 48219 Detroit, MI. 48219

Bedrooms: 3 3 3 2

Bathrooms: 1 1 1.1 2

Square Footage: 850 716 908 696

Garage: No Yes – 2 Car Yes – 1 Car Yes – 1 Car

Basement: Yes Yes Yes Yes

Sold Price: $875 $900 $1,000 $1,000

DOM: 14 32 7 1

Address: 18245 Lenore Ave. Asking Price: $35,000.00

Detroit, MI. 48219

Number of Units: 1 Style: Bungalow

Bedrooms: 2 Bathrooms: 1

Square Footage: 796 Garage: Yes – 2 Car

Taxes: $817.26 /year Currently Rented: Yes - $800/month

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Scope of Work This is only a general overview of the property based on what Rehab Detroit, LLC. would do to the property. This is by no means a definitive scope of work and you should always check with city and state codes with your contractor to ensure that the property has been brought up to local standards and will pass all final inspections. If we have been provided city inspections they will be included. It is recommended that you always have the property professionally inspected to know what you must address once closing has occurred. Rehab Detroit, LLC. takes no responsibility if something is missed during the inspection period. It is strictly up to each investor to verify all information pertaining to the property.

*** NOTE: The owner is still living in the home. The SOW is only a recommendation if the house would be used as a rental.

Exterior

Roof & Siding 1. Roof: Have inspected and certified. If past life expectancy remove existing and install selected product.

a. Roof was replaced less than 3 years ago and appeared to be in very good shape. 2. Gutters: Probably a good idea to have them cleaned.

Other 1. Remove any and all debris and garbage. 2. Light Fixtures: Install new fixtures, bulbs, globes. Exterior grade products must be used. General Landscaping.

Interior

General 1. General clean-out of all debris in the property.

Walls 1. Prep: Scrape and patch ceiling and walls for application of paint. 2. Finishing: Apply two coats of chosen color.

Floors 1. Install new carpet or refinish the existing hardwood through the property whichever is more cost effective.

Kitchen 1. Cabinets: Refinish and rehang existing cabinets. 2. Countertops: Remove of existing countertops. Install new countertops. 3. Hardware: install knobs, handles, pulls, on all drawers and doors.

Bathrooms 1. Vanity: remove existing vanity. Install new vanity, mirror, and/or medicine cabinet. 2. Toilets: remove and replace existing toilet. 3. Hardware: installation of towel bar, toilet paper holder, cabinet hardware and grab bars.

Electrical 1. Light Fixtures: removal of existing fixture. Properly install new fixture. 2. Replace all outlets, switches, plugs and cover plates.

HVAC 1. The owner said the furnace works but it was recommended that its replaced before winter.

Doors 1. Interior: Prep and paint all interior doors. 2. Install new interior and exterior door hardware.

Summary Overall the house is in solid condition but obviously needs repair. The owner is willing to leave any and all materials that are in the house if the new buyer wishes. Again there are tenants in the property…. This is only if they decide they want to move out.

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Pictures

Exterior Pictures

Exterior Front Exterior Back Yard

Exterior Back Yard

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Interior Pictures

Floors are in good shape. Cleaning may be all they need. Everything will be removed prior to closing.

Kitchen is in good shape. A good cleaning may be all it needs. Again all debris will be removed prior to closing.

Bathroom is clean and functional. Bedrooms are clean but could a coat of paint.

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Rehab Detroit Closing Process

Below is a quick overview of our process and what we expect from you as the buyer and what you can expect from us as well

Making an offer Our expectation is that you can make a soft offer based on the pictures and/or video walk-through provided to you in the wholesale marketing package. Please do your own due diligence in terms of ARV, and renovation budget necessary for the project. We typically do not offer these to our buyers as the numbers are subjective, and we do not want to be responsible for any investment decision you might make. Once you have an idea of what your soft offer is, please email us the offer at Eric@RehabDetroit.com. Once we have that, and a POF (Proof of Funds) we can schedule a showing if one is needed.

Please Note – requests to view properties that are accompanied by a soft offer will take priority over requests to view a

property with no offer.

Because many of the houses we purchase are occupied, we typically only allow one showing per buyer. At this time you are welcome to bring a contractor and do your walk-through inspection. Formal inspections are not permitted. All of our deals are off market and have wholesale pricing. Please be prepared to estimate renovations/repairs during your preliminary walk-through of the property.

Once your offer is accepted If we decide to accept your offer, you will receive an email from our title company. They will send you the contracts and the information for you to wire a nonrefundable deposit. They will also be responsible for handling the process from that point through closing. They will act as a liaison between you Rehab Detroit, LLC. and the seller. Their job is to make sure that all parties get to closing as smoothly and efficiently as possible. If you have any questions or concerns about anything relating to closing they will be your main point of contact. Most of our deals are closed via assignment contract. In other words, we have an assignable purchase agreement with the seller and we are simply selling (assigning) that contract to you for a fee. The purchase price you agree to will always include our assignment fee. Once you sign the assignment contract you will be sent the original purchase agreement between the seller and us. Our expectation is that the contract will be signed and returned along with the wired deposit within 24 hours. Please note – until we have received the signed contract AND nonrefundable deposit on a property, that property will continue to be marketed and we reserve the right to accept another offer. Additionally, the non-refundable deposit is exactly that – nonrefundable – unless the deal doesn't close because we cannot provide marketable title or something on the seller’s side prevents that from happening. Cash offers are preferred, but we will also accept hard money offers. We do not accept traditional mortgage offers. If you are making a cash offer, the nonrefundable deposit amount is $2,500. If you are making a hard money offer, the deposit amount is $5,000. This is due to the increased risk and uncertainty that the deal will close. All deposits are applied to the purchase price. All of our deals are closed through a title company (Certified Title Corporation) and all come with warranty deeds

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Assignment of Contract THIS ASSIGNMENT (“Assignment”) is made and entered into this day of , 20 by and between Rehab Detroit, LLC. ("Assignor"), and, ("Assignee"). WITNESSETH: WHEREAS, On the day of , 20 , the Assignor has entered into a certain Real Estate Purchase and Sale Agreement (“Agreement”) with as ("Seller") and the Assignor as ("Buyer") for rights to purchase the property located at 18245 Lenore Ave., in the City of Detroit, State of Michigan, copy of said Agreement being attached hereto as Exhibit "A", AND WHEREAS, Assignor wishes to sell his/her/their right in the Agreement and the Assignee wishes to buy all of Assignor's rights and accepts receiving title and interest in, to and under said Agreement.

1. NOW THEREFORE, for and in consideration of the sum of $ ( Dollars) and other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, Assignor has assigned, transferred, sold and conveyed and by these presents does hereby assign, transfer, sell and convey unto Assignee all of Assignor's right, title and interest in, to and under said Agreement. This Assignment shall be binding upon Assignor and shall inure to the benefit of Assignee and its successors, heirs and assigns.

2. Assignee hereby assumes all of Assignor's duties and obligations under said Agreement. 3. The Assignee agrees to close on or before ___ day of ____________, 20___ and adhere to all remaining terms of the

Agreement. 4. The Assignee agrees to indemnify and hold harmless Assignor from and against any claim or action, which may arise

or hereafter be brought by Seller(s) against Assignor arising under or by virtue of the Agreement. 5. This Assignment constitutes the sole and entire agreement between the parties hereto and no modification shall be

binding unless set forth in writing and signed by all parties hereto. 6. This Assignment shall be construed under the laws of the State of Michigan. 7. Time is of the essence in this Assignment. 8. Seller and Assignee agree and understand that Assignor is not acting as a real estate broker or agent in this

transaction and is not representing either party, but rather is acting as a principal in selling his/her/their contractual and/or equitable interest in the above referenced agreement to Assignee.

9. A deposit of $ ( Dollars) has been made payable or wired to the Certified Title Corporation

IN WITNESS WHEREOF this Assignment has been signed, sealed and delivered by Assignor and Assignee as of the day and year first above written. Signed, sealed and delivered in the presence of: ______________________ ______ __________ Buyer’s Signature Date Seller’s Signature Date ______________ ______________ __________ Witness’s Signature Date Witness’s Signature Date

STATE OF : : ss. COUNTY OF : I, , a duly authorized and acting Notary Public in and for the State of Michigan, hereby declare: that on

this date personally appeared before me , to me known to be the individual(s) described in and who executed the within and foregoing document, and acknowledged to me that he signed the same as his free and voluntary act and deed.

WITNESS my hand and official seal this day of , 20 .

Notary Public

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Contact Information

Eric Persha

Eric@RehabDetroit.com Cell: (248) 894-8191

Office: (248) 633-8800 www.RehabDetroit.com