Deb Berger Rehab Deal

 

Deb Berger Rehab Deal

Homes 2 Own, LLC in Olive Branch, MS
Deb Berger with Kevin Berger

Bought the house end of August 2019 pre-forclosure as is from a former coworker. It had three major foundation breaks and was uninsurable. Every foundation company came in with different plans so hired a Structural Engineer to identify what was needed and establish baseline requirements for the job. This was the biggest cost at over 25K just for foundation and had to wait to do rehab work on inside for one month to allow for settling but could do demo and outside. More than half the windows broke as a result of the foundation which was an unexpected costed (over 5K). We had the house a month from complete when a tornado hit the house in January. It ripped off the ridge caps which allows water to come in and damage half the ceilings and about 1/4 of the walls which were already painted. The roof was replaced (thank goodness for insurance) at a cost of over 11K and lots of rework.

Rehab Details


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Case Study

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

We did not have the house up for sale yet. I had a For Sale by Owner with Coming Soon in place of a phone number but I did have my Marketing Banner for Homes 2 Own on the door and the buyers called that number on Mother's Day begging to see the house. They'd been looking since November and had been unsuccessful in finding their ideal home. The new homes were all cookie cutter and builder-grade, nothing special and other rehabs were bigger than they wanted and slim pickings. Ours was their dream home and they made a near full price off the as soon as they walked through it the day after Mother's Day. We weren't quite done yet so it's been a real hustle to finish up and close.




Before & After Photos