Kedric Sires Rehab Deal

 

Kedric Sires Rehab Deal

Sapient Properties in Washington, DC
Kedric Sires with Aissa Sires

This deal was listed by a fellow agent in my company. As soon as I saw it I sent him a full asking price offer sight unseen and he accepted our offer. We had a 1-month delay to purchase the house because it was probate that had to be finalized. We funded the deal with a local HML, New Funding Resources and borrowed from our credit cards for the gap funding. This house was a full gut and we added a powder room and converted the half bath in the basement to a full bath. We had to do a bit more work for the venting system and the basement door than we expected but when we were done, we had five bedrooms and three and a half bath.

Rehab Details

Property City: Washington
Purchase Price: $365,000
Repair Costs $101,873
Holding Costs: $91,363
Sale Price: $580,000

* 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 used the Deal analyzer before, during and after the renovation to keep track of our profit margin. Unfortunately, it took longer to sell than expected but because we kept track of the numbers, we knew how low of an offer we could accept on this deal without losing money.




Before & After Photos