FortuneBuilders

Julie James Rehab Deal

JH Property Solutions in Elwood, IL
Julie James with Howie James

Per suggestions from our Internet Quickstart coach, my business partner was providing helpful information to other investors on a local REI group when we came across this deal. The feedback my partner provided resulted in a conversation about a property this wholesaler had in our community. While we had some PML's lined up for gap funding, we used a short-term loan from a local bank to purchase the property. It was interesting to learn that some banks are offering loan programs similar to HML's. We developed a great relationship with a contractor on this project who we look forward to working with in the future.

Rehab Details

Property City:	Elwood
Purchase Price:	$130,000
Repair Costs	$60,000
Holding Costs:	$30,000
Sale Price:	$280,000
Gross Profit:

* 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?

Our FortuneBuilders coaches provided helpful insights along the way regarding negotiations, contracts, calculating accurate ARV's, repair suggestions, etc. We even tapped into our coaches to serve as tie-breakers if my partner and I disagreed on a rehab choice. Our IQS coach was also very helpful throughout the process, especially when it came time to list our project on the MLS. We would like to extend a special thank you to Erica May & Michael Haas for guiding us through our first rehab.

Julie James Rehab Deal