Caroline Powell
Cornerstone Property Solutions
in Cleburne, TX
Caroline Powell with Ron Powell and Lore Levin
We found this deal through our local realtor. The asking price was $67,500. We talked the seller down on price because we knew that the house would need $60K in renovations. The home was built in 1940 and needed new plumbing, electric and gas lines, new roof, foundation, everything. We did encounter some added challenges along the way due to problems with one of my business partners. These problems ended up costing us an additional $10,000 spent on the house but even with the added expenses, we still had a decent profit and felt like it was a successful venture. I learned a lot on the job and made a lot of great connections with others in the business.
Rehab Details
Property City:
Cleburne
Property State:
TX
Purchase Price:
$47,500
Repair Costs:
$70,000
Holding Costs:
$15,549
Sale Price:
$150,650
Case Study
How did the FortuneBuilders team and resources help you to accomplish this deal?
I did not complete the QuickStart program but did review the chapters to understand expenses and what to expect when spending on the renovation and it helped me to feel more confident. I did learn throughout the venture that I did have the experience from previous ventures over a stretch of nearly 28 years of buying and selling homes that we lived in. This program did help my confidence in myself.
