Ryan Delegge Rehab Deal

Rehab Details

Property City: Orlando
Purchase Price: $109,000
Repair Costs $34,000
Sale Price: $196,000

* These examples depicting income or earnings are NOT to be interpreted as common, typical, expected, or normal for an average student. Although we have numerous documented successful deals from our coaching students, we cannot track all of our students’ results, and therefore cannot provide a typical result. You should assume that the average person makes little to no money or could lose money as there is work and risk associated with investing in real estate. The students depicted have participated in advanced FortuneBuilders’ training and coaching. The participants shown are not paid for their stories; however, some of the students depicted may also be a FortuneBuilders' coach, and our coaches are compensated for their services. We believe in full transparency, so please read our Earnings and Income Disclaimers and Terms of Use.

Case Study

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

We have been working with 1 of the top producing REO agents in the greater Orlando area for the last 6 months. Our agent was on us in a mater of minutes once it hit the market, we had an offer in immediately and went under contract same day. From there we were able to drive price down to make the numbers work in our favor! We ended up financing this deal through GCC and pulled a 2nd private lender to fill the gap fund.

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

This home overall was an easy cosmetic fixer upper. We put in a new kitchen and 1 new half bath. For budget purposes, we went ahead and glazed the master bath and it turned out perfect. We also replaced the front driveway because there was a root growing up through a section, causing a few major cracks and presenting tripping hazards. This project was completed rather quickly

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

We qualified the top producing real estate agent in the area to market this property to help sell this one. We also, used a Facebook targeted marketing campaign to drive 9 new families to the open house which resulted in a bidding frenzy. We ended up going under contract for over asking price. We were only 3 days on market!

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

The biggest learning lesson we took away from this project was to always consider the option of traditional financing over VA financing. The process took a little longer than we would have liked but in the end it all turned out just fine

Shout Outs & Testimonials

We are super grateful for the systems that FB has shared with us. The way everything is laid out from qualifying your team members to the check lists and templates, this truly is an amazing business model to follow. Thank you Than, Paul and JD!!

Before & After Photos