This is easily our favorite project (AND BIGGEST) to date. This home was listed on the MLS in a very desirable neighborhood in Boulder County where the average home price hovers just over $1,000,000. The house had been in the same family for over 70 years and after an unexpected death, it was time to sell. We were able to beat out two other investors and close in two weeks, despite offering 100k BELOW asking price. The renovation was a full gut including all new plumbing, HVAC, and electric. We also built a new garage with a carriage house. Despite zoning delays in permitting for a historic area, we were still able to complete the project in about 5 months of total work time. We pre-sold the home and as soon as we had our certificate of occupancy we were able to close and hand the keys to the new owner. But our favorite part was inviting the original owners back to the home prior to the sale to see the finished product. They were blown away by the changes!
How did the FortuneBuilders team and resources help you to accomplish this deal?
In total, we only spent four days as technicians on this job. Additionally, we negotiated 100k off the original list price of the home and 180k off contractor bids using FB sales and negotiation techniques. We started screening contractors and seeing their work months before we found this project, so once this was under contract we knew exactly who our team would be and they knew our pay schedule, paperwork, and how to bid the job. We couldn't have imagined taking on a project of this size and scope when we bought our first little duplex in 2015. If it weren't for the systems FB has in place (and actually implementing them), this fantastic deal would've gone to someone else. It was a win-win for everyone.