Julie Cass
JEX Property Group, LLC
in Baton Rouge, LA
Julie Cass with Rex Cass
I found this property on the MLS, it was a flooded property from the Great Flood of 2016 that devastated the Denham Springs and Baton Rouge areas. rnrnThe property almost needed a full renovation because it was flooded with 5.5 ft of water. When we purchased the property in Dec 2017 homes in Denham Springs were still selling like hotcakes but once we put the property on the market for sale the market changed and became a buyers-market. rnrnWe ended up selling the property for 15k under the appraisal value just to get rid of it and unfortunately, we did not make a profit on this property. rnrnWe lost approximately 5k on our first rehab, it was disappointing but the lessons we learned were invaluable.rn
Rehab Details
Property City:
Denham Springs
Property State:
LA
Purchase Price:
$73,000
Repair Costs:
$74,000
Sale Price:
$199,000
Case Study
How did the FortuneBuilders team and resources help you to accomplish this deal?
When we purchased the property our coach was Miguel Rodriguez and he provided us with valuable info on marketing the property the minute we closed and keep us on track throughout the process. rnrnWhen we sold the property our coach Bret Alford helped us make decisions and gave us ideas on how to get it sold. rnrnWe would also like to give a shout out to AJ Carmody, our private money lender who helped us close this deal, without him we would not have had the money to close it ourselves.rn
