Alma Borcuk Rehab Deal

 

Alma Borcuk Rehab Deal

Flow Creative Property Solutions, LLC in Running Springs, CA
Alma Borcuk with James Borcuk

In June, at the Internet Quickstart Bootcamp, during an exercise, I called a Craigslist listing and "met" Rose from a wholesale company in my area. Thru her, I acquired my first deal on August 2nd. This purchase was funded by a HELOC on our house. The property was advertised as cosmetic repairs only but it turned out, it needed more than that. Repairs include interior and exterior paint, new dual pane windows, deck, fireplace, flooring, and fixtures throughout. non-cosmetic repairs included a new water heater, heater furnace, ductwork and some electrical wiring repair. The property listing went live Thursday evening, we had an open house Saturday and the first family to see the house bought it above asking price! Escrow started Nov 4 and closed Nov 26. Our first rehab was not a walk in the park but I learned a lot in the process and have emerged with earned confidence, ready to tackle the next deal!

Rehab Details

Property City: Running Springs
Purchase Price: $165,000
Repair Costs $40,000
Sale Price: $265,000

* 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?

My coaches, particularly Coach DJ Reed help me along the way. For the first 3-months (I joined in March), I focused on learning from the courses and various resources before seriously looking for deals. I also attended the LA and Chicago bootcamps and the San Diego Office Systems Academy. I had no real experience in this field and I strongly believe that I needed to educate myself first in order to reduce the risk when I finally get my first deal. I used the repair estimator and deal analyzer and other features in the Realeflow app. Internet Quickstart, as I mentioned was instrumental in finding my first deal.




Before & After Photos