Leslie Basemore Rehab Deal

 

Leslie Basemore Rehab Deal

BMR Property Solutions LLC in Gary, IN
Leslie Basemore with Robert Basemore,Ralph Basemore

In May of 2018, we found a 1901 Historic Home in the Town of Dyer, Indiana we purchased it for $67,500, with an ARV of $250K. The house was built by a stone mason, and most of the walls were stone and brick and lots of character. However, the home needed a lot of work which caused some challenges. We initially wanted to give an open concept through the first floor, however, it was not possible because of the build of the home. We were still able to complete the rehab and created a beautiful home for a potential Buyer. We spent a $100K in repairs and upgrades, this deal was funded through a hard money lender.

Rehab Details

Property City: Dyer
Property State: IN
Purchase Price: $67,500
Repair Costs $100,000
Sale Price: $222,000

* 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?

There were other challenges but thanks to FortuneBuilders for their knowledge in building a more detailed SOW we were able to meet all the challenges, keep going and complete all benchmarks in a timely manner. Receiving our Draws and completing the project. We listed this home for $259K and sold it for $222K.




Before & After Photos