Howard (Bud) Evans Rehab Deal

 

Howard (Bud) Evans Rehab Deal

JKS Homes, LLC in Cinnaminson, NJ
Howard (Bud) Evans with Stephanie Evans

This property was found through a South Jersey Real Estate Association meetup where I networked with several wholesalers and found an appropriate deal. (Good Deal) . After speaking with Jeff Forrest owner of JDF Properties and his Wife Donna, I asked if I could look at previous deals and potentially see anything they have in the queue. This property was sent to me the next day. I did my due diligence and made an offer as soon as I completed the walk-through. Before I left the property, I had them sign my offer sheet and wrote an escrow check. I closed in three weeks. It took 6 months and $105K but was worth every moment and dollar spent as it sold in 6 days and closed in 27 days $15K over ARV!!

Rehab Details

Property City: Audubon
Property State: NJ
Purchase Price: $115,000
Repair Costs $105,000
Sale Price: $265,000

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Case Study

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

This property was sent through the deal analyzer. This was my first flip so I utilized everything in the FortuneBuilders queue on this project. I started with the search for a GC, got a labor quote, had my SOW completed in 3 days (38 pages long). Downloaded the 6 critical documents from the site and got them signed. Using coaches at least 2x a week kept me on pace through completion. Only setbacks - HVAC crew took a month off for Christmas increased holding, then a buried oil tank. The original estimate for construction was $75,000. An exhaust chimney fell through the roof, mechanical room and into the kitchen - $20K; buried oil tank - $10K. But, today it sold!! ARV was $250K - Sold at $265K!! #CAW!!




Before & After Photos