John Demchak Rehab Deal

 

John Demchak Rehab Deal

Timely Property Solutions LLC in Manalapan, NJ
John Demchak with John Demchak,Rita Demchak

I called the listing agent and asked her to represent me as the Buyer. After receiving best and final offers from all interested parties the same day, the listing agent notified that I had the highest bid sent me the Purchase Agreement to sign. The next day I was informed that there would be another best and final set of offers. I did not get the property as the price increased by $20k. Three months later, while attending a Bootcamp Summit I got a call from the listing agent saying the previous high bidder changed their mind after 90 days and wanted $25k in concessions. I eventually signed the purchase agreement for less than my original bid. From purchase closing to selling close 3 months elapsed.

Rehab Details

Property City: Freehold
Property State: NJ
Purchase Price: $175,000
Repair Costs $75,000
Sale Price: $320,000

* 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?

From my training, I knew to ask the listing agent to represent me as the Buyer. I also submitted a stronger offer by agreeing not to conduct any inspections and to close quickly, since the Sellers had already lost 3 months on a deal that fell through! The property was owned by an elderly couple, so I offered to haul away anything that they left in the property. They really appreciated the gesture.




Before & After Photos