Eric Shudak Rehab Deal

 

Eric Shudak Rehab Deal

Home Mods Inc in Wilkes-Barre , PA
Eric Shudak with Neighborlee Homes LLC

This deal was brought to us last year and we decided to walk away from it. The house was a hoarder house mess on a busy street. The owner inherited this mess from his uncle. Dave was directed to us through our local network. At first, we were busy finishing up 2 other renovation projects and I just earned my RE license (CAW!) and didn't even want to bid on this house. I told Dave to give me a couple of weeks and was honest with him about my schedule. I just started learning the commercial real estate market and wanted to change my focus away from renovations. However, realizing my next paycheck may not be for a couple of months, I decided to revisit this property. How bad can it be? Showing a very promising return, with not much reconstruction necessary, Home Mods Inc. decided to work on this 1955 Colonial. The biggest challenge was cleaning it out - and the windows –and the plumbing.

Rehab Details

Property City: Wilkes-Barre
Purchase Price: $16,500
Repair Costs $68,575
Holding Costs: $19,850
Sale Price: $170,000

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Case Study

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

As always, I credit Than and his team at FortuneBuilders for this knowledge. Allowing me to make these great decisions in real estate. The modified deal analyzer and repair list have been used by my companies since 2015. We ended us funding this deal with our own resources but had to do a "late in the game" refi for some cash out to purchase our best deal yet. (More info soon)




Before & After Photos