Dorothy Butala Rental Deal

 

Dorothy Butala Rental Deal

Hestia Ventures LLC in Erie, PA

In September 2017 I sent out yellow letters to 17 cherry-picked 10+ unit properties, and one of the properties happened to be owned by my private lender. I sent her the yellow letter to get her opinion on what she thought about it but never did I think she was going to sell the property. A few days later I called for about funding for a deal, and before I could ask her, she told me she got my letter, decided to sell, and that she was just finishing her letter to 8 investors, including me, about her giving us the opportunity to purchase the property. Within a week, she and I had struck a deal, and closed on the property in November 2017. I like this property because they are higher end, town home style rentals within 4 minutes of a medical college. The rents were extremely low, and the property needed some sprucing up to maximize the cash flow.

Rental Details

Property City: Erie
Property State: PA
Purchase Price: $965,000

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Case Study

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

I used the Fortune Builders rental analyzer, and created about 8 scenarios around different financing structures and current and projected cash flow. I was able to use the side by side comparison to quickly determine how I needed to proceed in order to make the deal a win-win for my lender and I.