Nate Hudson Rental Deal

 

Nate Hudson Rental Deal

HB Property Solutions, LLC in Fulton, NY
Nate Hudson with David Hudson,Brian Hudson,Jennifer Hudson

451 & 455 S 4th are two commercial buildings with office space on the first floor and apartments on the second floor of each building. We received a phone call from the listing agent because the properties went into foreclosure. Our team took a look at the properties and we were very interested. We submitted an offer that was contingent upon the bank financing it for us. We went through a local bank whom we have a good relationship with. There was another offer where the bank accepted because it was more money. A month or so passed and that deal fell through so we re-offered the exact same offer. The seller accepted our offer this time and they were financing 75% of the purchase price for 20 years. We worked to get private funding for the down payment and the $22,000 rehab. Once we secured the property and completed the rehab, we were able to occupy several of the apartments as well as some of the office space. Our team went back to the same bank to refinance and pull out the equity that as left on the properties. By doing this we were able to free up $50k of private money to use towards our next deal plus some. Once we get this deal 100% occupied, our cash flow should be $2000 a month!

Rental Details

Property City: Fulton
Property State: NY
Purchase Price: $75,000

* 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?

The FortuneBuilders team helped us through the Commercial Deal Analyzer. The bank representative was very impressed with the amount of due diligence that our team completed. Also our coach, Robert McIntosh helped us out by pointing us in the right direction on this deal.