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rental DEAL

Howard (Bud) Evans

JKS Homes, LLC in Cinnaminson, NJ
Howard (Bud) Evans with Stephanie

I located this property through Craigslist. After reaching out to the individual, I realized this was a HUD home with no certificate of occupancy. The property was in decent shape with the exception of a kitchen and some minor electric and plumbing repairs. I used a hard money lender and private money and I'm currently in the process of refinancing the property while pulling $10,000 out of the equity for use on another home. I've put the property up for rent and was able to give back to the military community by renting this to a Vietnam Vet and his daughter at a discounted rent.

Rental Details

Property City:
Delanco
Property State:
NJ
Purchase Price:
$74,000
* 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?

I ran this deal through the Deal Analysis team. The numbers we came up with allowed me to make a great decision on this deal. The Net Cash Flow on this property was enough that I could use the wiggle room to discount this property for the tenant. I ran this by my coaches and I ran with it.