Tashia's Rehab Deal - FortuneBuilders

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rehab DEAL

Tashia DeHerrera

Enriched Investments LLC in Denver, CO

Tashia DeHerrera with Charles Zaragoza

We went to our local REIA meetup and this property was being wholesaled by a property management company. We immediately contacted our hard money lender to go over the numbers for this property. This property needed meth remediation in order to be in compliance with the State Department of Health. This was a full gut project. We even replaced the framing in the house and the only thing that remained original was the four outer walls. Landscaping was cleaned up and new sod and mulch was installed. We finished the project a few days before Christmas 2017 and we went under contract with the buyer on New Years Eve. This property sold for $5,000.00 over list price. This property was unique due to the meth and being a full gut project for our first deal. Our remediation/repair costs came to be a little over $75,000.00.

Rehab Details

Property City:

Denver

Property State:

CO

Purchase Price:

$147,000

Repair Costs:

$76,140

Sale Price:

$280,000

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Case Study

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

We scheduled many coaching calls throughout our journey with this project. The team was so supportive and helped us out with more callers even after ours expired. We are extremely thankful for all the help because we couldn’t have done this without the Mastery community. Being a student allowed us to network for hard money lenders, contractor referrals, and realtors for this deal.