Joshua Ellison Rehab Deal

 

Joshua Ellison Rehab Deal

Blue Horizon Property Group, LLC in Lone Tree CO, CO

I purchased this deal from a Wholesaler. This property was a unique 4-story split level home with a detached 2-car garage located in West Denver. It was definitely part of the Ugly House Club! However the house had direct views of Broncos Stadium, and the Denver skyline it’s only 12-minutes away from downtown and had a lot going for it. After inspecting the home we discovered that most of the issues were cosmetic. Once the deal analysis was completed, we were able to procure the purchase amount from a hard money lender and funded the rehab entirely from private money lenders who happen to be among our closest friends. The scope of work included the following: - Replaced aged and failing siding with Vinyl siding throughout - Replaced all windows with new, double-paned vinyl windows - Replaced dilapidated deck entirely with new, two-story redwood deck - Replaced aged and failing fencing with new, six-foot privacy fence - Replaced all carpet and padding - Remodeled both bathrooms - Removed all old flooring and installed engineered wood flooring on entire main floor - Replaced all light fixtures and electrical outlets - Complete interior paint job with new baseboard - Repainted detached garage - Landscaping “clean slate”, including removing all overgrowth and replacing with rock, edging and straw in preparation for spring sod installation Once all of the work was completed down to the punch list, the house was under contract in 6-days! The first buyer pulled out and it was under contract a 2nd time days later. We closed on February 15th, 2019, 5-months after we purchased the property.

Rehab Details

Property City: Denver
Property State: CO
Purchase Price: $259,500
Repair Costs $58,000
Sale Price: $400,000

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Case Study

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

Utilizing the FortuneBuilders systems, Coaching and resources really made the completion of this project possible AND still profitable, even factoring in Jerry Springer-caliber failings on the part of the contractor. It made all the difference to us to be able to contact the Coaches when atypical and intimidating challenges arose and factor in their experience and advice.




Before & After Photos