Donna Reed

A Butterfly Property, LLC in Clarksville, TN

This teardown and new construction project I found through a wholesaler. I just moved to the Nashville area and wanted to learn how real estate was done here vs. out west, and I wanted to learn “fast”! The house I demolished the house and rebuilt a new one using a design plan I found from many sites on the internet. I used this project as a learning experience with the hopes to break even. I fired my first GC halfway through the project because he stopped working for money and he wanted payment before the work was done. I replaced him with a GC who understood draws and had great vendor connections to build fast. I was able to make money! In the end I had a great team and set up for rehabbing and new construction. , GC, subs, vendors, attorney, title company and realtor team. I currently have 4 homes in the process of being built!!

Rehab Details

Property City:

Clarksville

Property State:

TN

Purchase Price:

$37,000

Repair Costs:

$127,000

Holding Costs:

$10,254

Sale Price:

$185,000

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Case Study

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

FortuneBuilders coaches encouraged me to learn by doing....and they helped me every step of the way answering tons of my questions, directing me where to look for information, who to talk to, and even how to handle firing my GC. The Mastery material is so organized that even after going through it once, I was able to go back to just the topics I needed to refresh for this project to ensure I was doing the right things. With any project, I also learned what I will do better next time, as well as what I will not do. Thanks, FB.