Karen Rothermich Rehab Deal

 

Karen Rothermich Rehab Deal

Karestone LLC in Kansas City, MO
Karen Rothermich with Karen and Mark Rothermich

I found this deal on the Facebook marketplace offered at $29,900. No way. I could tell it was way overpriced. It was on there about 2 weeks, I finally wrote to them and asked if they would take $10k. They said yes. I went to see it immediately and purchased the home. 2 BR, 1 BA, 768 s.f. on .66 acres 5 minutes from downtown. It was a massive hoarder house. Top to bottom. Clean-out alone cost $13k and 6 -- 40-yard dumpsters and eventually a total of 11 dumpsters. Everyone told me to bulldoze it, but I could see the beauty. Trees and brush in the yard was a mess....the worst I've ever seen. Animals were everywhere....raccoon, groundhogs. We gutted it completely. All new wall studs, HVAC with duct-work, electrical panel and wiring replaced the old knob and tube, all new plumbing, new front siding, flooring, kitchen, light fixtures, we basically rebuilt the house (except the roof)

Rehab Details

Property City: Kansas City
Purchase Price: $10,000
Repair Costs $96,000
Holding Costs: $21,500
Sale Price: $139,500

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Case Study

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FortuneBuilders provided me with the deal analyzer, knowledge, education, motivation, and gumption to believe that I could achieve such a task and not "break the bank."




Before & After Photos