Elissa Stone Rehab Deal


Elissa Stone Rehab Deal

Acquisitions By Design in Richmond, TX

First deal I have done in finding the property through a wholesaler. The wholesaler's comments on my negotiation posted on Facebook: "This property was a bit of a challenge but Elissa stuck to her guns, she negotiated like a killer on the asking. In my career as a wholesaler, I have not seen such a drop in original asking to what it sold for but this one was aligned to be sold to this investor and wow what an amazing job she did. Investors, I am now on the lending side of the table and I can’t explain how important it is for you to do your own due diligence and make sure you are buying correctly every single time. Do not feel pressured to buy at the wrong asking price in fear of “missing out”. There is always another one, yes it may take time but don’t lose hope!" My hard money lender ARV appraisal came in at $315K. I negotiated and closed at 370K

Rehab Details

Property City: Richmond
Purchase Price: $169,230
Repair Costs $138,530
Sale Price: $370,000

* 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?

I listed this deal at the height of COVID-19 on March 20th. I had the property under contract in 11 days and closed within 31 days. Lender-approval was tightening for the buyers, so I got involved with the lender as well. Two appraisals later and being told more than likely we would not close, we closed! FB's systems, processes, and leadership gave me the knowledge and confidence to navigate through potential pitfalls during one of the most uncertain and scary times during the midst of COVID-19.

Before & After Photos