William Welch Rehab Deal


William Welch Rehab Deal

Forthright Partners LLC in Highlands, NJ

I was referred to this deal by a contractor that said he had a former employee, an army veteran, that needed to sell his home. The seller had financial difficulties and several complexities that I worked through with him. In fact, I lent him money to pay off creditors that were at his door - this built good will and helped his mental state. I self-funded the deal as I wanted to diversify from equities - so I sold stock at a high price right before COVID 19 impacts. The house was structurally sound but had smoke covered walls and required a new kitchen and bath. Given the uncertainty in the industry in February and March, I decided to just clean and paint all the walls and then market to contractors and other investors. A contractor was referred to me who offered my asking price.

Rehab Details

Property City: Highlands
Purchase Price: $221,100
Repair Costs $3,003
Holding Costs: $15,352
Sale Price: $265,000

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Case Study

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

The repair estimator helped me calculate an appropriate asking price. I was able to transparently discuss the reasoning behind my offer with the seller.

Before & After Photos