FREE ONLINE CLASS
Learn How To Start Investing In Real Estate
FREE ONLINE CLASS
Learn How To Start Investing In Real Estate
rehab DEAL

Michael Gillis

Renewed Life Property Solutions, LLC in Phoenix, AZ
Michael Gillis with Joy Garvey

This deal came to us as a probate lead directly from the out of state seller. The seller flew into town and met us at the property to discuss the purchase of the home and the kind of options we could provide. We all were very surprised to find the home's condition was far from normal, actually uninhabitable by most standards. We made them an offer in person the next day, they were equally satisfied with the deal and we closed in 10 days. We started the rehab immediately. The house was a complete renovation, which included a new roof, water heater, cabinets, flooring, granite tops, paint, lighting, plumbing fixtures and exterior clean up/landscape. The house was cleaned, staged and sold. The whole process took 98 days, which may have been done quicker, however, we chose to sell to an Air Force Veteran using a VA loan. The whole deal was a blessing to us, to the sellers and to the buyers.

Rehab Details

Property City:
Glendale
Property State:
AZ
Purchase Price:
$80,000
Repair Costs:
$66,180
Sale Price:
$214,900
* 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?

Start to finish we used these tools: Seller Lead Sheet, Purchase Agreement (FB Support helped with verbiage about personal belongings), Deal Analysis, Rehab Estimator and KPI Tracker. Lastly the Tutorial for entering the whole transaction into Quickbooks!rn

Before & After Photos