Kelly Powers Rehab Deal

Rehab Details

Property City: Gainesville
Property State: FL
Purchase Price: $57,000
Repair Costs $55,733
Holding Costs: $1,623
Sale Price: $159,900

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Case Study

How did you find and structure the financing of this deal?

We used a hard money lender that we found from the mastery face book page and he financed 80% off the purchase price and 100% of the rehab. The remaining 20% came from a local private money lender.

Provide a summary of the repairs and improvements you made to the property.

This home required a shingle to slab rehab. After our contractors pulled the dead possum out of the kitchen walls , every aspect of the home was demoed and refurbished to new. There was a non permitted room with a laundry room in the back of the house. The roof was caving in. The room was completely demolished and a new laundry room and a carport was built.

How did you find a buyer for the property if you sold it?

Our realtor listed this home on the MLS. It sold in less then 48 hours at full asking price.

What are some of the major lessons learned that you would like to share with other students that they can learn from?

It's difficult to plan how long it will take to get permits from the city because they are not consistent. We now have our contractors start the permit process as soon as the property is under contract.

Shout Outs & Testimonials

We would like to give a shout out to the Integrity Homes and Lending Team! From our money lenders to contractors, to our interior designer, to our realtor, to our attorney and staff. We are very fortunate to have such an amazing team!

Before & After Photos