Juan Lazarde Rehab Deal

 

Juan Lazarde Rehab Deal

Investa Property Solutions in Cincinnati, OH

I found this deal through a local Wholesaler by calling the number from their bandit sign. This house is located in an up and coming neighborhood and the house is small, so the risks of this first downtown rehab were limited. The purchase, rehab and carrying costs where funded by leveraging a Home Equity Line Of Credit. The rehab was extensive, this house was abandoned for a long time before I received it. New electrical, plumbing, HVAC, roof, walls, etc. I designed the open layout and added a room and a full bath on the first floor of this 1,008-SF, 2 floors, 13-ft wide house. It ended up looking amazing. Feedback from everyone was positive, from realtors, potential buyers, and contractors. This was a really small house that was opened up and full of light, in a very unique and hip neighborhood.

Rehab Details

Property City: Cincinnati
Purchase Price: $89,000
Repair Costs $90,000
Holding Costs: $20,500
Sale Price: $210,000

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Case Study

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

The construction and contractor's checklist were a lifesaver. After having trouble with the contractor, everything fell into place by using the Contractor Process and closely checking up on the contractor, inspections, quality control, controlled scope creep, etc. The FB process gave me the confidence that I needed to hire and fire contractors. On the back end, my FortuneBuilders coach helped me negotiate with the Realtor on terms and motivation to encourage the house to be sold promptly.




Before & After Photos