Bill Greene

ROI Proportunties, LLC in Sedalia, CO

Bill Greene with Marie Greene

In August of 2018, we found a 2700 sq. ft. 4/3 in a quaint suburban neighborhood southeast of Denver. It was a home in need of substantial updates. The owner needed fast cash as he was elderly and recently moved to a nursing home facility. His brother managed the transaction and it was tight at a buy of $315k with an ARV of $425k - and in need of $60k in repairs/updates. We found an HML which we had never used. They required an SOW, up front, to reference for draws. We did a terrible job at the SOW estimate per the HML draw, as it was a rushed closing. That is to say, we submitted broad, general work such as 'Paint, Kitchen, Landscaping, etc.' estimates - which resulted in not being able to draw until the categories were 100% complete. The point is, it's critical to follow the FortuneBuilders Process/Repair Estimator for a more detailed SOW submission per draws. The good news is that this was our 2nd rehab and the first project with our company's new proprietary construction crew - HHB Construction. This new team works only for ROI Opportunities and is led by a Construction Instructor at a Denver Builder Academy. His team is comprised of new, but well trained, at-risk youth. These young men are economically disadvantaged but eager and bright! When Than Merrill and the FB Leadership ask 'What is your WHY?' - These kids are our answer. They successful rocked out this rehab with new walls, texture, stunning bathrooms, flooring, carpet, plumbing, basic electric, and a KILLER kitchen redesign. We listed this home for $449k but closed at $442k. While we had some budget overruns due to our lack of experience, we still consider this a WIN as it launched our young construction crew of at-risk youth - a mission with purpose!