FortuneBuilders

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
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?

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.

Julie Fletcher Rehab Deal