Josh Jacobsen Rehab Deal

 

Josh Jacobsen Rehab Deal

J&T Property Solutions, LLC in

This property was a foreclosure on the MLS. I drove past this house for months before joining FortuneBuilders. With the knowledge that I learned from FortuneBuilders, I submitted an offer to the listing agent and it was accepted right away. The house was in bad shape. We had to do a lot of repairs that I didn’t account for in my estimates, but it still worked out. I was planning on remodeling the kitchen and baths, replacing the flooring, and painting the interior. On top of that, I found some rotten floor joists, white mold in the subfloor of the living room, a bad roof, and a missing upstairs HVAC unit. The kitchen needed to be opened up. There was a wall with a door leading into the dining room. We removed the wall and added a bar to make it flow better. We replaced a shower in one bathroom and a tub in the other, they were both dated. We replaced the roof and repaired some facia. The living room floor was completely removed and the floor joists were repaired. The flooring throughout the house was replaced with carpet and Laminate vinyl plank. To increase curb appeal, we added a large deck to the back of the house, which required us to move the HVAC units. After we were finished, we increased the 2,588 square foot, 3 bedrooms, 3.5 bathroom house to a 4 bedroom, 3.5 bathroom house with 2 master suites. We had a cash offer on the property for asking before it was ready to sell, and it was under contract two days later.

Rehab Details

Property City: Whiteville
Property State: NC
Purchase Price: $105,000
Repair Costs $128,311
Sale Price: $272,000

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Case Study

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

We used the deal analyzer to estimate the repair costs before making an offer. We also submitted the deal for review and completed the Scope of Work using templates from the website. Without the training from FortuneBuilders, we would not have made this happen.




Before & After Photos