Angeline Mitchell Rehab Deal

 

Angeline Mitchell Rehab Deal

Talooka Property Group LL in Jessup, MD

This rehab has been in the making for a while. I originally used a combination of hard money and my own to buy it for $70K to become a quick flip. However, due to a couple of military deployments, it became a rental. The tenants did not take care of the house but helped pay about $26K on the mortgage. The house sat vacant for 6 months in a state of disrepair until November 2018. Since the majority of the work was inside, winter weather wasn\'t a factor. I started to utilize Realeflow a lot to make sure this worked out. My budget was for a low-end property, so I only used $15K+ALOT of equity. I ordered all the materials to ensure there weren\'t any surprises as the contract with my contractor was for labor only. The comps in the area ranged from $105K to $110K. I listed the property for $110K and received a full price offer within 20 days on the market. The realtors were given 6% to split. I made $49K after all was said and done.

Rehab Details

Property City: Norfolk
Property State: VA
Purchase Price: $44,239
Repair Costs $15,000
Sale Price: $110,000

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Case Study

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

The single most helpful tool in this deal was Realeflow. I am so glad I took my coaches advice to get it. The Deal analyzer, Repair Estimator, Scope of Work and comp section are super helpful. It saved me time and helped me price my property correctly. The documents on the FB Mastery web was great to have and I implemented a couple of them in my systems. This flip was not complex and all cosmetic.




Before & After Photos