Mark Rust Rehab Deal

 

Mark Rust Rehab Deal

Trophy Ridge Homes LLC in Ritzville, WA
Mark Rust with Candy Rust

I used to work for a home health agency in Washington state and spend many hours inside of people's homes. I was asked by a family about what I did outside of work and I mentioned that I recently joined FortuneBuilders and now I am I real estate investor. They told me about a house that their friend was trying to sell by themselves but didn't have any offers because it was in really rough shape. We contacted the sellers and toured the house. We made an offer the same day and they accepted! We were able to convince them to carry the contract with monthly interest-only payments. Our rehab was funded by ourselves and a couple of family members that pitched in as PML. This was a 1940 craftsman style house with a lot of character, so I decided to do the rehab myself. I have personally rehabbed quite a few homes, but doing a craftsman was tops on my list!! We are very proud of the results!!

Rehab Details

Property City: Ritzville
Purchase Price: $60,000
Repair Costs $68,000
Holding Costs: $18,000
Sale Price: $200,000

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Case Study

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

They provided us with the confidence to talk to others about our business. They helped us provide the necessary documents to legitimise the terms and lock down the deal. Also, they helped us establish our LLC to create a professional platform to speak to others about what we want to do. Not to mention the confidence they instilled in our with all the training to go out and promote our new business.




Before & After Photos