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rental DEAL

Linda Goldstein

M Vincent Assets LLC in Wilmington, DE
Linda Goldstein with Mark Fansler

We found this property through a 'wholesaler' who tried to sell it to us without having it under contract (tsk! tsk!). We contacted the listing agent and informed her of this (sinister plot), and she accepted our offer, which was $20,000 less than what the wholesaler was asking for! Initially, we were going to renovate and resell the property but decided instead, to start our passive income portfolio! We made some minor renovations, including replacing all the windows and adding blinds to all first-floor windows (required). We had members of our team do a thorough cleaning and had it rented quickly!

Rental Details

Property City:
Wilmington
Property State:
DE
Purchase Price:
$142,000
* 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?

As always, we used the FB SYSTEMS to evaluate 2 different exit strategies for the property: as a rehab and resale and as a rental. We completed the deal analyzer both ways, and we had two different realtors (with passive income experience) tour the property to let us know what we could ask for in terms of monthly rent. We ended up adding one of the realtors to our team, as she is also a Property Manager! She vetted potential tenants, had a well-attended open house, and helped us decide on our new renters (who are fab-u-lous!).