Andrea Lane Rehab Deal

 

Andrea Lane Rehab Deal

Red Door House to Home LLC in Long Branch, NJ
Andrea Lane with william Villa,brooke lewis,danielle jenkins

I received a call from a mailer on Monday, followed the seller lead sheet, and determined we had a potential deal. I created a prelim deal analyzer based on pics and information he provided on the phone. I set up a visit for the next morning. We looked at the home and did an on-site analysis and made an offer, it was accepted. We signed a contract that day for $220,000. Our plan was to pre-hab the house for $60,000 and put the home on the market in 45-60 days for $360,000. The following day I went to a networking event and presented the house as a win. A fellow fortune builder said they may have a potential buyer. The following day the buyer walked thru and we signed a contract as long as we cleaned the property and house out. It took us almost 3 months to close due to junk and paperwork issues. We closed 4 months after purchase for $330,000.

Rehab Details

Property City: Long Branch
Property State: NJ
Purchase Price: $220,000
Repair Costs $5,210
Sale Price: $330,000

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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

The FortuneBuilders training processes and procedures allowed us to have the conversation with the seller and gather enough information to move forward. We were able to create a pre-deal analyzer so we could complete our estimate on the spot. Because I network consistently with many people including other FortuneBuilder family members we contracted quickly and put in very little time and money on the deal.