Dawn Medley Rehab Deal

 

Dawn Medley Rehab Deal

Argyle Properties LLC in Laurel, MD
Dawn Medley with Bill Medley

Found this house by mining Facebook during a break at the Wholesale & Acquisitions Bootcamp in Feb 2020. Purchased from a wholesaler. Sought out a PML in the FortuneBuilders Facebook community but ended up finding a JV partner that lives near us in Maryland. JV partner was Amore4Homes. The partnership has been great. We made $128,340 in repairs - $18k over budget however the numbers still worked. The lesson learned here was that we should have included more for a driveway, porch, deck, major landscaping, and woodland critter remediation & discouraging techniques - said another way don't plant hosta & pansies in a wooded area because the deer will feast on it like a buffet. We will definitely increase the contingency percentage next time.

Rehab Details

Property City: Laurel
Purchase Price: $215,000
Repair Costs $128,340
Holding Costs: $84,087
Sale Price: $500,000

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Case Study

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

The Deal Analyzer was key as well as sharing our story from our Credibility Package with our JV partner. This was our 2nd contract and project during COVID19 but is the first to go to closing.




Before & After Photos