Duane Thorpe Rehab Deal

 

Duane Thorpe Rehab Deal

Phoenix Property Ventures, LLC in Leesburg, VA
Duane Thorpe with Arlene Thorpe

A realtor from our team brought this foreclosure sale to us. We sat on it for approximately a month, until the price dropped. We then quickly submitted a cash offer. Our offer was accepted by the bank over other bids due to our ability to pay cash and close quickly. We used a Hard Money lender. The property was located in an upscale neighborhood. Overall, the house was in decent shape for a foreclosure. However, it did have a few leaks, which caused ceiling collapse & mold in several places, which scared many other potential buyers away. Repairs made included the following: drywall repairs, new paint throughout, major kitchen & 4-bath redo, refinish wood floors, replaced all other floors/carpets, general cleanup & light landscaping w/ fresh mulch. What made this unique was the 'sizzle' which included an impressive 40 sq ft white quartzite kitchen island, high-end ceramic tile throughout.

Rehab Details

Property City: Leesburg
Purchase Price: $635,900
Repair Costs $125,000
Sale Price: $879,900

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

We utilized the repair estimator, and deal analyzer to calculate the profitability. While we did encounter a few unplanned expenditures, we still made a nice profit on the rehab. Our coach, Leigh, was definitely helpful by encouraging us




Before & After Photos