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rehab DEAL

Gary & Rosalind Riley

Household Realty Development Group LLC in Murrieta, CA
Gary & Rosalind Riley with Gary Riley

The property came up for sale on the MLS as the result of a contentious divorce. The property was in need of repair so the seller listed the property at $300,000 which was $55,000 below the prevailing market price at the time. We offered $292,000 all cash with a 10 day close. The seller received a higher price offer of $309,000 from a retail buyer but accepted our lower priced offer because he liked the all cash and quick close approach that we offered even though our offer was $17,000 less than the $309,000 offer he received. The property required primarily cosmetic repairs including: new flooring, roof repairs and interior/exterior painting.rnrnThis deal was funded via a hard money lender and a private money lender. Once completed the property was beautifully staged which helped us sell the property at nearly $20,000 above the prevailing $355,000 market rate.

Rehab Details

Property City:
Murrieta
Property State:
CA
Purchase Price:
$292,000
Repair Costs:
$36,500
Sale Price:
$374,900
* These examples depicting income or earnings are NOT to be interpreted as common, typical, expected, or normal for an average student. Although we have numerous documented successful deals from our coaching students, we cannot track all of our students’ results, and therefore cannot provide a typical result. You should assume that the average person makes little to no money or could lose money as there is work and risk associated with investing in real estate. The students depicted have participated in advanced FortuneBuilders’ training and coaching. The participants shown are not paid for their stories; however, some of the students depicted may also be a FortuneBuilders' coach, and our coaches are compensated for their services. We believe in full transparency, so please read our Earnings and Income Disclaimers and Terms of Use

Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

The assistance we received from Fortune Builders was invaluable. First off we received excellent coaching and guidance from our coach Gloria Taylor-Brown. Secondly the Fortune Builders curriculum was excellent. The curriculum enabled us to confidently prepare: Credibility Packets, Detailed Scope of Work Documents, Deal Analyzer Cost Estimates, Six Critical Documents for Contractors, Offer Packages, Trust Deeds, Promissory Notes and much more.

Before & After Photos