Kathy Liss Rehab Deal

 

Kathy Liss Rehab Deal

Property Biz Inc. in Brighton, MI
Kathy Liss with Jeff Liss

We acquired this home through a foreclosure. The home was vacant for approximately 6-months. The house had a great foundation but needed any update. The houses in the area were built in the 1950s for veterans returning from war. A neighbor showed me a flyer that listed the monthly payment of $69.00 per month to purchase, times have changed! We updated the plumbing, added a bedroom by removing some walls and installing new ones. The bathroom changed from green to gray and the kitchen was completely remodeled with new granite countertops, a wall was removed and changed to a pony wall, and all new flooring and cabinets were installed. The interesting situation was we pre-sold the home before it was completed and were able to work with the new buyers to get the finishing touches, they desired.

Rehab Details

Property City: Brighton
Purchase Price: $126,000
Repair Costs $25,000
Sale Price: $185,000

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Case Study

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

We've learned from the systems, how to evaluate a deal, source products, and contractors, stay organized and how to network for deals and buyers. We were able to find the buyers for this project through a real estate agent who has contributed to our team from the beginning. By applying what we've learned we felt confident in how we progressed with the deal and were able to make a profit.




Before & After Photos