Lounacitas "Lougie" Murdocco Rehab Deal

Rehab Details

Property City: Burnaby
Purchase Price: $770,000
Repair Costs $157,000
Holding Costs: $108,000
Sale Price: $1,251,800

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Case Study

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

Private lenders for purchase and our own money for renovations.


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

Full house renovation and remodelling. It included a conversion of a 'bonus' room into a 4th bedroom and finished the 345 unfinished basement area by adding a new full bathroom and a 5th bedroom. Upon purchase the house was a 3 bedroom / 3 bathroom home with 2,363 sq ft of living space. Final finished house after rehab was a 5 bedroom / 4 bathroom home with over 2,700 sq ft of living space.


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

Realtor


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

Have all the contracts and quotes in prior to the start of work and to have contractors commit to their timeframe.




Before & After Photos