William Welch Rehab Deal

 

William Welch Rehab Deal

Forthright Partners LLC in Manasquan, NJ

We found this 3 bed 2 bath property via a Probate Marketing campaign. The Executor lives several hours away and was very pleased with the process. This was a solid house in a desirable location but last updated in the 1980s. We approached a Hard Money Lender who's office was close by and had him tour the property so that he could see the value. Despite being our first deal, he lowered his rate from 12% to 10.25% on the $323K loan. We rehabbed the kitchen and 2 full baths. Refinished all the hardwood floors and removed wall-paper and repainted the entire house. We met the buyer at an open-house. The closing took several months due to the buyer's contingency to sell their current home. This hurt our profits but we still made a nice profit

Rehab Details

Property City: Manasquan
Purchase Price: $380,000
Repair Costs $52,500
Holding Costs: $23,300
Sale Price: $555,000

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Case Study

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

The FortuneBuilders process gave us the confidence to address all situations. The Repair Estimator and Analytical Tools in Realeflow were particularly valuable.




Before & After Photos