Julie Fletcher Rehab Deal

 

Julie Fletcher Rehab Deal

JL Property Ventures, LLC in Washington, DC
Julie Fletcher with Linda McElligott

This was a pocket listing from a real estate agent. The owner did not want to spend any money to renovate or spruce it up. It had been a rental for many years and needed massive updating. It was a rowhouse on a lot of 2000 sf in a very sought after neighborhood of NW Washington DC called Burleith. Demand for SFH’s in this neighborhood is high because of it's "village in the city" feel. This was a full house renovation that included opening up the first-floor front to back with a living room, kitchen, and dining area with french doors opening to the back deck. Three bedrooms, two baths, and laundry on the second floor. A third-floor addition was added for a master suite with extra space and a grand rooftop deck. The lower level was reconfigured for potential use as an English basement / Mother-In-Law suite with entrances front and back.

Rehab Details

Property City: Washington
Purchase Price: $830,000
Repair Costs $550,000
Holding Costs: $147,841
Sale Price: $2,175,000

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Case Study

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

All the FortuneBuilders' systems were followed from networking with agents to find the deal to the scope of work and critical contract documents to hire and negotiate with the contractor. The property was never actively listed in the MLS. We listed it as Coming Soon in early September and our buyer made an offer within the first three weeks.




Before & After Photos