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rehab DEAL

Steven Smith

Jump Properties in Hondo, TX
Steven Smith with Donah Smith

This property was purchase in a foreclosure auction. It is a 1960 sqft 3,2 double wide on 2 acres in the country. It needed a new roof, new septic, new complete kitchen, new flooring throughout, some updating for bathrooms, two wood decks, one new porch, new underpinning, and interior paint all-around. The deal was funded with personal savings and was completed in 5 months. Asking price was $185K and the final purchase price was $200k. Who knew manufactured homes could generate this kind of competition!?

Rehab Details

Property City:
Devine
Property State:
TX
Purchase Price:
$63,730
Repair Costs:
$52,096
Holding Costs:
$16,335
Sale Price:
$200,000
* 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?

Fortune Builders helped this transaction from beginning to end. There was a piece of nearly every training module put into practice on this deal including how to structure, how to analyze the deal, how to decide what to rehab, how to budget the work, how to stay disciplined to your budget, how to work with contractors, how to market, and so much more. Ultimately, Fortune Builders provides enough training and information that it makes you think and act like an experienced investor and that not only builds your confidence, it saves you tons of money by not making mistakes because of your inexperience!

Before & After Photos