Steve Letosky Rehab Deal

 

Steve Letosky Rehab Deal

Hamerkop Home Solutions, LLC in West Babylon, NY
Steve Letosky with Paul Letosky

We found the deal on the MLS. It was on the market for a couple of months and then there was a big drop in price. We were able to discover that the seller had been relocated for work and was egger to move. We funded the project with a hard money lender for purchase and rehab and a private money lender for gap funding. We did quite a bit of work to the house being it was built in 1925. Scope of work was a roof, new Kitchen, adding a second bath, pouring concrete in basement to seal it, new hardwood floors trough out, and all new interior doors.

Rehab Details

Property City: West Babylon
Purchase Price: $268,000
Repair Costs $89,000
Holding Costs: $14,000
Sale Price: $435,000

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Case Study

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

The educational pieces have been a huge resource. What made our profit less than anticipated was that we held on to it too long cause we didn't follow enough direction. We learned a lot and are going to CRUSH the next one. Thanks for your Support!




Before & After Photos