Gary Massari Rehab Deal


Gary Massari Rehab Deal

REI Fortunes LLC in Berkeley, CA

This home came from my realtor network on the MLS. The deal was funded using hard money at 85% of the purchase price and 100% of the rehab cost. A PML was used for $250K paying 10% as Gap funds. The 2-bed, 2-bath bungalow was converted into a 3-bed, 2-bath home. A master suite was added, which included a bathroom, walk-in closet, exercise room, and a small office. We remodeled the kitchen and added custom cabinets, GE café appliances, and a cooktop peninsula. All of the bathrooms were remodeled and we added a spa shower in the master bath. The interior and exterior were painted and all new landscaping was completed.

Rehab Details

Property City: Berkeley
Purchase Price: $985,000
Repair Costs $178,840
Holding Costs: $178,385
Sale Price: $1,490,000

* 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?

FortuneBuilders was very instrumental in the success of this home. After rehab Bootcamp and used a lot of sizzle items to make this a hot home (Redfin called in HOT). I used the deal analyzer to evaluate the deal and do my cost estimates. I used the detail SOW from our site to put the whole package together. I used the 6 critical documents for my subcontractors. As a result of using our systems, I finished the project in 90 days and sold it for 23 days. The best part is I sold it $100,000 over the listing price.

Before & After Photos