Aissa Sires
Sapient Properties
in Gaithersburg, MD
Aissa Sires with Kedric 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
Property State:
DC
Purchase Price:
$365,000
Repair Costs:
$101,873
Holding Costs:
$91,363
Sale Price:
$580,000
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.
