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

* 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?

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