Kenny Campbell Rehab Deal

 

Kenny Campbell Rehab Deal

Nuvision Property Solutions, LLC in Santa Ana, CA
Kenny Campbell with Kenny and Somer Campbell

While in my IQA training in Phoenix, I messaged a wholesaler that had a home listed on Craigslist. We’ve spoken in the past and asked why I haven’t gotten this listing. I then realized we had recently changed our email and he had the wrong one. We scheduled a time to meet at the property the following Monday after we got back in town. He then introduced me to his boss. I mentioned what we would do to the property to get it market-ready and that the price that is being asked is too much based on the comps in the neighborhood. We debated a bit over the repair cost so I walked the property with him and showed him all the issues, what needs to be replaced, and the possible foundation issue. He then asked, "you saw all that this quickly?' We subsequently purchased the property together. Got into a contract at $939K. I then negotiated down to $800K. Spent $10K in cleanup and landscaping. Relisted $950K.

Rehab Details

Property City: Santa Ana
Purchase Price: $800,000
Repair Costs $10,000
Sale Price: $943,500

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Case Study

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

I called the coaches to discuss strategies and suggestions on a JV agreement.