Renee Degelau Rehab Deal

 

Renee Degelau Rehab Deal

Tropic Coast Home Solutions LLC in Cape Coral , FL
Renee Degelau with Eric Degelau

I found this home through the MLS. It was on the market for over 90 days. The owner had inherited the home after his mother died some years back and he was having a hard time taking care of the property and the liens that have been filed against it. The homeowner was very grateful we purchased the property and we were able to help him out. The deal was funded using a self-directed IRA and a Hard Money Lender. Major repairs included flooring, baths, paint, electrical, plumbing and kitchen.

Rehab Details

Property City: Cape Coral
Purchase Price: $152,500
Repair Costs $48,000
Holding Costs: $12,700
Sale Price: $235,000

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Case Study

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

Without FortuneBuilders we would not have the systems in place to make the decision to move forward on this property. It was located in an area we were able to use comparable sales data that benefited the ARV. We tried to wholesale the property first but we were turned down because we were told the comps do not support the ARV we calculated. We were fairly confident in our ARV based on education with Fortune Builders. We were able to sell this property for a price close to our original ARV calculations.




Before & After Photos