Tom Stamp Rehab Deal

 

Tom Stamp Rehab Deal

Currahee Property Solutions LLC in Cibolo, TX

We initially loaned money to another investor to renovate this property, but the other investor proved incapable and was not performing. The property was headed to foreclosure. In order to save the money we had invested, we exercised a clause in our 2nd lien deed of trust that required the other investor to sign the deed over to us if we caught up the late payments with the 1st lien holder. Once we acquired the property, we developed a renovation plan that increased the living square footage, added a living room, added a true master suite, added a couple of wood decks front and back, and changed the front facade of the house. The property was contracted for sale before the renovation was completed and it became the highest priced property sold to date in the neighborhood it’s located in.

Rehab Details

Property City: San Antonio
Property State: TX
Purchase Price: $115,000
Repair Costs $89,500
Sale Price: $229,800

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Case Study

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

Lessons learned and shared experiences from the various FortuneBuilders training programs and resources proved invaluable in guiding our decision for how to acquire the property as well as develop the appropriate renovation plan to maximize the property\'s potential in its neighborhood.




Before & After Photos