Kathy Liss Rehab Deal

 

Kathy Liss Rehab Deal

Property Biz Inc in Milford, MI
Kathy Liss with Jeff and Kathy Liss

We were nervous about taking this house on because part of the house was built in the 1900s and had not been updated including some of the electrical. The rear part of the property was added on to several times and the upstairs bedrooms had very low ceilings. We were in for a full redevelopment of this property. We had several realtors from the area view it to make suggestions in order to keep it true to the older homes in the area. Because of their suggestions we opted not to re-purpose the front living room into a master suite, this was a mistake. Each person that came through wanted the master on the first floor. We then came up with a plan to change it upon sale, which allowed us to sell it and then thankfully the new owners decided not to do the master suite.

Rehab Details

Property City: Milford
Purchase Price: $182,129
Repair Costs $126,069
Holding Costs: $42,456
Sale Price: $395,000

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Case Study

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

Using the deal analyzer and the systems, allowed us to move forward with confidence in this deal. It was a huge project for us, but we were able to finish it in five months. The delay in the sale was a huge disappointment, but we had utilized some of our own funds to make this deal happen and as a result still had a positive outcome.




Before & After Photos