Barbara Aldrich-Clougherty

Bay State Equity Partners, LLC in Danvers, MA

Barbara Aldrich-Clougherty with Charlie Harting

We found this deal on MLS right after our Full Immersion class. The 1440 sq. ft house belonged to a hoarder and we completely gutted it and added an additional 568 sq. ft. increasing the square footage to 2008 by the end of our rehab. Our rehab included converting the garage into a 2-bedroom’s and creating a master suite with a master bathroom which included large his and her closets. The 3 season’s porch was replaced with a new roof, walls, windows, and heat and we removed the oil heat and replaced it with a high-efficiency propane heating cooling unit. Our biggest feature added to the home was the open concept kitchen which included high-end white cabinets, and appliances. An 11 x 18 kitchen island was added as well as a wine/beverage refrigerator. Luxury plank flooring, windows, doors, plumbing, patio, and all LED lighting was installed as well.

Rehab Details

Property City:

Danvers

Property State:

MA

Purchase Price:

$308,000

Repair Costs:

$119,000

Holding Costs:

$64,000

Sale Price:

$562,000

* 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?

We worked with several FB coaches in the beginning, especially around the financing options. However, Charlie and I have over 30 years of experience in the commercial and residential construction space.