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rehab DEAL

Michael Collins

Down Home Investments, LLC in Calabash, NC
Michael Collins with Cynthia Collins

My attorney actually lives in this neighborhood and he happened to be the attorney for the trustee. He informed me that the home was coming on the market. I was able to submit my offer on the first day. This house has been my most extensive rehab since joining FortuneBuilders. We took down walls, added square footage, and gutted the kitchen and baths. We also replaced the roof, garage door, and we built a deck. Unfortunately, this house went about $30K over budget. We were able to sell it quickly for the highest PSF in the neighborhood. Our profit wasn’t all that great for the extent of the project; however, we learned a ton and we’re on to the next one.

Rehab Details

Property City:
Myrtle Beach
Property State:
SC
Purchase Price:
$370,000
Repair Costs:
$114,350
Holding Costs:
$28,401
Sale Price:
$575,000
* 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?

The Deal Analyzer is an amazing tool. Being able to estimate my holding costs and potential profit from the start is so valuable. Having been in FortuneBuilders for almost 2 years now it’s easy to downplay how big of a blessing Than, Paul, JD, Conrad, and the whole FB staff has been over the last two years. I am very grateful to be apart of the program.

Before & After Photos