Amanda Fornelli Wholesale Deal

 

Amanda Fornelli Wholesale Deal

Nopali Properties, LLC in Los Angeles, CA
Amanda Fornelli with Oscar Bustos and David Fornelli

We found this property on Zillow after being listed for a few hours. Our team jumped at the opportunity to tour this 1908 home and make an offer the same day. We got the property under contract for $400,000 and moved quickly to get our inspections and contractor bids complete. After bids and inspections were done, we realized that this project was going to be a full gut and rehab for over $180,000, which at the moment would be too extensive for us to finance and take on as our first project. We quickly changed strategies and decided to wholesale instead. We successfully convinced the agent and seller to agree to an assignment, found a cash buyer, and had them close on on time. The most unique aspect of this project was that we successfully wholesaled a property listed on the MLS and made $28,000 in profit in 30 days!

Wholesale Details

Property City: Los Angeles
Purchase Price: $400,000
Repair Costs $180,000
Sale Price: $428,000

* 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?

When we decided to quickly change strategies, we referred to many of FortuneBuilder's resources to get the job done. We referred to our curriculum and had many coaching calls to successfully develop and communicate to our cash buyer's list, market our contract effectively, and secure proper documentation. Our cash buyer was so impressed with our process and knowledge that he called me to congratulate us on a job well done and even offered to JV in the future.