Peter Berzin Rehab Deal

 

Peter Berzin Rehab Deal

Berzin Homes LLC in Feasterville, PA
Peter Berzin with Yana Berzin

Found this property on the MLS which was 70 Days on market for 199,900 and so I contacted the listing agent to represent me and offered 120K and they met me half way at 122500. Estate sale

Rehab Details

Property City: Feasterville
Property State: PA
Purchase Price: $122,500
Repair Costs $110,000
Holding Costs: $22,000
Sale Price: $307,500

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Case Study

How did you find and structure the financing of this deal?

Found it on MLS. Used a hard money lender for 80% of purchase and 100% rehab. Raised private money for gap and initial rehab cost.


Provide a summary of the repairs and improvements you made to the property.

Full gut. Wanted to keep the right addition structure but ended up completely rebuilding that section with new vaulted ceilings and hardie board siding. New electric HVAC and Plumbing. Created open layout and master suite.


How did you find a buyer for the property if you sold it?

1st buyer wanted the house but wanted to wait for the open house 3 days later for a final decision.


What are some of the major lessons learned that you would like to share with other students that they can learn from?

Never pay the contractors fully until the final inspection. Always hold back 250-500$ until Township inspection passes for the permit. Negotiate EVERYTHING!! Don’t do more than what you need. Stay just above the most expensive comp.


Shout Outs & Testimonials

Kamil Drezek was the lamp for my feet through this deal giving me the confidence I needed to step into the deal and pushed me beyond my limits. Could not have done it without him.




Before & After Photos