Dominic Cretella Rehab Deal
Fresh Start Homes, LLC
in Hamden, CT
Dominic Cretella with Joe D'Albero, Marc Sagnella, & Myself - Dominic Cretella
Fresh Start Homes, LLC
in Hamden, CT
Dominic Cretella with Joe D'Albero, Marc Sagnella, & Myself - Dominic Cretella
| Property City: | Hamden |
| Purchase Price: | $65,000 |
| Repair Costs | $42,500 |
| Holding Costs: | $17,613 |
| Sale Price: | $168,800 |
We searched (begged) for private money to fund this project. Even though my partners and I have pretty extensive construction and remodeling experience this was still our first flip. Many lenders were very skeptical to loan us money. We really believe in this business and were very passionate about this project so we asked for help from Family and Friends. Using these resources as well as Home Depot Revolving Credit we got the project funded. Trust me people, it gets easier finding investors once you have a deal or two under your belt!
This house was in pretty bad shape! The exterior needed new Siding, Windows, Doors, Trim, Rot Repair, and a Roof Over. We had minor landscape, deck and fence repair, and a new driveway installed. On the inside we remodeled the kitchen and bathroom completely, Updated all the electrical and plumbing. We replaced the old electric heat with a new combo boiler unit for heat and hot water using propane gas. Added living space by finishing two thirds of the basement into a bonus room and second full bathroom/laundry room. Refinished hardwood floors in living room and hallway, installed tile in kitchen and bathrooms, and installed carpet in the bedrooms and bonus room. Installed all new light fixtures and ceiling fans. As a feature we installed a Honeywell Security System protecting against Fire, CO, and Burglary. We offer a one year prepaid monitoring contract to the buyer.
Once the project was completed we took several pictures and posted them to our Facebook Page. When we were ready to schedule the open house we personally posted the house on Zillow with a few pictures. Then we used the power of Facebook to spread the word of our open house, we copied the Zillow Link to our page and paid $7.00 per day for 5 days to promote that link. We had a great turnout at the open house even being 5 days before Christmas....
DON'T BE AFRAID!! Study and learn the Fortune Builders Systems, USE Them!! Double check your numbers and comps. Rehab the property right, don't cut corners. Remember what we learned from FB - People before Profit! List the property correctly, do not over price, be fair!!!
FORTUNE BUILDERS MADE THIS POSSIBLE IN SO MANY WAYS!! Thank you to everyone at FB who worked with us, answered our questions, and helped us! We bought, rehabbed, and sold this property in under 4 months and we have only been Mastery Students since September 2015. A Special Shout Out Thank You goes to Paul, Thanks again for everything!!rnThis was our first flip and we really did crush it!! We have an amazing team here at Fresh Start Homes. My partners Joe and Marc, and I worked really hard to complete this project. We have to recognize our wife's Michele and Michele, our family members Ed, Ange, John, and Angela, our friends Frankie, Scott, Mario, Mikey, and Kyle for all their support and help. Thanks to our team of professional's - Dawn, Don, Jennifer, and Lynda just to name a few. We can't forget our kids Joseph, Mikayla, and Johnny!!
