Jason Owen Rehab Deal

 

Jason Owen Rehab Deal

HOMEVUE Properties LLC in Memphis, TN
Jason Owen with Maribel Owen

Our Sharon Project was our first rehab and we found a deal through MLS by setting up alerts for "AS-IS" properties. Multiple offers were submitted and though, we weren't the highest offer, the seller accepted our offer due to the all-cash proof of funds letter able to close within 2 days. This deal was fully funded by three Private Money Lenders. We wanted to renovate by staying with traditional bungalow style and adding some modern touches: interior and exterior paint, removed two walls to create an open concept (beam installed), carpet replaced with vinyl plank floors, recessed lighting installed, added 10ft stone peninsula, new kitchen cabinets, and appliances, new bathroom renovation, updated electrical, replaced all windows, doors, trim, gutters, new wall and large closet added in Master bedroom. We are extremely happy with our finished project and look forward to our next one!

Rehab Details

Property City: Memphis
Purchase Price: $126,000
Repair Costs $44,600
Holding Costs: $19,200
Sale Price: $235,000

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Case Study

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

We wouldn't have been able to do this without our coaches, deal review support, systems, and resources from the FortuneBuilders website. Also, the 6 critical documents were so essential to protect relationships with our contractors for clear communication and expectations. IQA strategies including Realeflow resources, and our social media business websites to market were so helpful to let people know who we were, what we were doing and how people could partner with us for future deals. We have received numerous response of contractors, lenders, and realtors wanting to work with us to build our business. We also built great relationships with neighbors who watched us rehab the property and now have two new probable deals in the same neighborhood. We never felt alone in the process and very grateful for God's provision and the genuine support and encouragement from our FB Family!




Before & After Photos