Regina DeLoach-Bennett Rehab Deal

 

Regina DeLoach-Bennett Rehab Deal

Coal 2 Diamond Property Solutions in Menifee, CA
Regina DeLoach-Bennett with Vernon Bennett

We found this deal on the MLS. The property was on the market for 8 months and the seller was eager to sell. We funded the deal with a PML and HML (Complete Lending). There were a couple of unique things with this deal: 1) The PML was our end buyer also. So, they invested in our business to help us purchase the property and then we returned the funds so that they could be able to purchase the property from us after the rehab was completed. 2) The property was originally listed as a 2-bed, 4-bath house. We redesigned it as a 3-bed, 3-bath. The repairs included: updating the kitchen, remodeling the guest bathrooms, creating a master suite (with Super shower, bath and vanity replacing what was the closet), converting a half bathroom into a laundry. Flooring, painting, and we replaced a window with a patio door.

Rehab Details

Property City: Menifee
Purchase Price: $238,000
Repair Costs $36,505
Holding Costs: $11,231
Sale Price: $330,000

* 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 tremendous support from the coaches!! Valuable information about how to go about getting PMLs and HMLs. Documents such as 6 Critical documents, promissory note, lease agreement, etc were very helpful in keeping us informed and focused.




Before & After Photos