Mauricio Castro Rehab Deal

 

Mauricio Castro Rehab Deal

Reborn Homes LLC in Marietta , GA
Mauricio Castro with Cynthia Gomez-Silva

This is our first deal as Mastery students. We got the property the day it was put on the market from a Wholesaler. We were able to view the occupied house early in the morning. There was a lot of junk everywhere, which caused us to miss the foundation and filtration issues in the basement. Unfortunately, the Wholesaler did not disclose the issues with us. We realized we had to redo and expand the master bedroom, create a laundry room and re-distribute the space to add one more room and make the property a 4-bedroom, 2-bathroom home. We added a mudroom, fixed the decks and electrical issues and we remodeled the kitchen as well as completed the landscaping. The house was painted inside and out, gutters fixed and we also had the septic tank serviced. We were able to self-fund this project so no PML or HML was used.

Rehab Details

Property City: Marietta
Purchase Price: $220,000
Repair Costs $65,000
Holding Costs: $12,760
Sale Price: $319,000

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Case Study

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

FortuneBuilders helped in a big way by letting us use the systems in place. We tried to follow them as best as we could and that allowed us to stay on track and minimize risk on our rehab costs. Another BIG help was coaching calls. I was able to get on weekly calls before we purchased property and while we were doing the rehab.




Before & After Photos