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rehab DEAL

Lloyd Goldstein

LG Homes, LLC in St. James, NY
Lloyd Goldstein with Yvette Goldstein

This was a For Sale by Owner that came to us when a local store owner we got to know asked about our new real estate business and if we might be interested in looking at their home. This friendly relationship allowed us to bring in an inspector and contractor to help us evaluate this potential deal. After agreeing on an acceptable price we were able to use a private money investor we had previously worked with to fund the purchase. We used our own funds and some other private money for rehab costs.

Rehab Details

Property City:
Smithtown
Property State:
NY
Purchase Price:
$350,000
Repair Costs:
$135,000
Sale Price:
$565,500
* 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?

We relied on the same knowledge, information and support provided by FB to evaluate and proceed forward with this deal. Of particular significance was the fact that we were negotiating with an older couple we had come to know and like. Although not in foreclosure and able to continue living in the home, they were hoping to find some relief that we could provide. Instead of trying to take advantage of the situation, we provided some additional help in closing and moving costs and even invited them to see their renovated home. As is often discussed among FB students, doing the right thing is worth more than a few extra dollars!!

Before & After Photos