Aline Sevigny Rehab Deal

 

Aline Sevigny Rehab Deal

Prime Shield Home Investments in PORTSMOUTH, VA

This property was in pre-foreclosure and we were able to stop the process with our attorney. We allowed the owners to stay in the house for 6-weeks after closing while they found a new place to stay. The owner had a goal to re-establish their credit and have a credit card within the next 6-months. We did a Subject To their existing mortgage, which allowed us to help the owner increase their credit score by showing that they completed 6-months of their mortgage payments. The rehab consisted of updating the windows, installing a complete HVAC system, and opening load-bearing walls for an open concept. We also added new electrical lines to split the refrigerator, stove, microwave, and dishwasher that were previously using the same line. We fixed the plumbing problems and also included remodeled the kitchen and bathrooms. We contracted a structural engineer and checked for termites as well.

Rehab Details

Property City: Virginia Beach
Property State: VA
Purchase Price: $155,000
Repair Costs $75,842
Sale Price: $300,000

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Case Study

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

The education and documents from FortuneBuilders helped with everything I needed. I utilized the Deal Analyzer, Repair Estimator as well as the contracts and checklist for my contractors. The Scope of Work was spectacular and allowed our project to have a stunning finish. Field Expert coach Jo Pascarella shared her knowledge and vast experience during the rehab. We followed the FortuneBuilder’s way including staging, having professional pictures done and allowing a seasoned realtor to sell our first rehab.




Before & After Photos