Scott Wolf Rehab Deal

 

Scott Wolf Rehab Deal

Home Planet, LLC in Gridley, CA
Scott Wolf with Scott Wolf

This property purchase was the result of a high equity direct mail campaign. Private lender funds were used for purchase and rehab. Because of a recent wildfire in the area, there was an extreme housing shortage, so we decided to do the rehab while the tenants were still living there, which was a first for us. The scale of the rehab was small: new roof, exterior painting, kitchen cabinet rebuild, and new counters, along with a few other smaller things. Clear communication with tenants and contractors was critical to maintaining order and good relationships during the rehab. Having the tenants there did make the rehab take longer, but it was the right thing to do, and it also brought us almost $8000 in rental income during the holding period. The tenants had enough time to find a new place to live, rather than just the required 60 days notice.

Rehab Details

Property City: Gridley
Purchase Price: $105,000
Repair Costs $20,174
Holding Costs: $10,258
Sale Price: $185,000

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Case Study

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

Understanding how to do a good scope of work was important as we worked with a new contractor on this one. (It went very well.)




Before & After Photos