Josh Loewen Rehab Deal

 

Josh Loewen Rehab Deal

Loewen Pride Properties, LLC in Brentwood, TN

This beauty was a bank foreclosure that needed some major TLC.

Rehab Details

Property City: Oklahoma City
Property State: OK
Purchase Price: $84,400
Repair Costs $50,955
Sale Price: $159,900

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Case Study

How did you find and structure the financing of this deal?

The deal was brought to us by a realtor in OKC who was a friend of the family. He does his own rehabs, but the project was more work than he wanted to take on at the time. We financed this deal using 18-month no-interest credit cards and our own savings account.


Provide a summary of the repairs and improvements you made to the property.

Landscaped and sodded front yard, replaced or repaired rotten wood trim and updated paint colors on the exterior, replaced existing tile and carpet flooring with wood throughout main areas (entry, great room, dining area), completely remodeled kitchen with custom cabinetry, under cabinet lighting, and glass tile back splash, remodeled master bath with custom tile tub surround and custom cabinetry, re-textured walls, removed popcorn ceiling and re-textured ceilings, repainted entire interior, replaced carpet in all bedrooms. All duct work for the HVAC was completely replaced (it was completely rusted out) and rerouted.


How did you find a buyer for the property if you sold it?

We listed the property on the MLS; it was purchased by first-time retail buyers.


What are some of the major lessons learned that you would like to share with other students that they can learn from?

Though our finished product was beautiful, we added some sizzle features (under cabinet lighting, glass back splash) that were not necessary. We learned the importance of having a motivated, selling realtor and not just relying on our first connection. Finally, in the future, we will stage our properties. Making our house look like a home would have served us well in providing a better vision for potential buyers.


Shout Outs & Testimonials

Shout out to the OKC Mastery students! We reached out via the Facebook Mastery page asking for help in spreading the word about our MLS listing. We were met with nearly-immediate responses and positive feedback!




Before & After Photos