The property was brought to our attention by our invaluable realtor/partner Wynn Martin. The property was in foreclosure and going up for auction. It was purchased through an online auction. The deal was financed through a hard money lender. We closed and took ownership of the property on December 21, 2017. The rehab took exactly two months and the property was listed for sale on February 21, 2018. 9 days later the property was under contract. Closing took place at the end of April. Renovations included repair of extensive water damage (approximately 30% of the sheetrock ceilings in the great room and kitchen and approx. 20% of the ceilings in various bedrooms as well as a portion of the hardwood flooring in the great room), a new architectural shingle roof which included replacing a significant amount of decking, fresh paint throughout, a tile back splash and all new stainless steel appliances in the kitchen, a stone fireplace, tile and granite countertops in the master bathroom, updated vanity in the loft bathroom, replacement of all light fixtures, switch face plates and several doors, a new 400 Sq. Ft. stone paver patio, sod and other landscaping of the back yard.
How did the FortuneBuilders team and resources help you to accomplish this deal?
My wife/business partner and I were nearly killed in a horrific motorcycle accident last year. We took advantage of our extensive recovery time and immersed ourselves in the wealth of knowledge that can be gained from the fortune builder resources available in the training modules. We are immensely grateful for the support and consideration shown us by Fortune Builders as well as NCH during this time. As a result, we were able to set a solid foundation for our first deal and, in fact, had two rehabs underway by the second month of operations. We utilized our coaching calls to bring our entire team together to ensure all members were all the same page and the suggestions and validation provided by our couch was invaluable and remains so to this day.