Leigh Van Der Walt Rental Deal

 

Leigh Van Der Walt Rental Deal

Baobab Property Solutions, LLC in Conroe, TX
Leigh Van Der Walt with Ivan Van Der Walt

This property came to us as a pocket listing from a fellow realtor who we are connected with via FaceBook. The property was an occupied rental for the past 5-years. The landlord was tired and bored and the home was neglected and needed some TLC. Due to the unresponsive nature of the landlord, the tenants left even though they loved the house and the neighborhood. We purchased it the home below market value and we were able to negotiate the sale price based on what we knew needed to be repaired and rent ready. We partnered with a General Contractor who had proven systems in place, to get the repairs done. We spent $30K on the repairs, which were mostly cosmetic and it was completed within a month, to a high standard. The home is now listed to lease on the MLS for $300 more than what it was previously leased for and will cashflow immediately.

Rental Details

Property City: Spring
Property State: TX
Purchase Price: $205,000

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Case Study

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

Attending Bootcamps and working my way through the curriculum, along with the support from coaches over the past year, I was able to position myself to be in the right place at the right time to see and capitalize on this pocket listing. Having the confidence and systems in place to respond to the deal, analyze it and place it under contract within the space of 24 hours definitely put me in front of any other potential buyers.