Wes Hunt Rehab Deal

 

Wes Hunt Rehab Deal

Mercury Real Estate Solutions in Melbourne, FL
Wes Hunt with Belinda Hunt

This 1902 three-story Victorian home is located in the historic district of Savannah, GA and was initially identified via Zillow.com. We reached out to an agent with whom we have a developed relationship with to view the property. It was a foreclosure and only available through an online auction. The auction hadn\'t started but the agent was on the ball and notified us as soon as it was available for bidding. There was only one other bidder and we were able to acquire the property for $333K using a hard money loan for $422 plus another $45K in private money. The kitchen and two bathrooms needed a full gut, needed all new electric, plumbing, and HVAC, the roof was bad and the flooring on the third floor was shot. Because it was in the historic district, we were able to get a short term rental permit. The home was sold through Zillow.com for $660K. The new owner is currently renting the property for between $300 and $1,300 per night.

Rehab Details

Property City: Savannah
Property State: GA
Purchase Price: $333,000
Repair Costs $140,000
Sale Price: $660,000

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Case Study

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

FortuneBuilders acquisition and financing training introduced us to the concept of using hard money loans to fund and rehab homes that other lenders would not touch. The deal analyzer for flips was invaluable during our research phase and the rehab estimator provided the accurate numbers we needed to confirm total ARV.




Before & After Photos