Bill Pohlmann Rehab Deal

 

Bill Pohlmann Rehab Deal

Gemstone Property Group, LLC in Lincoln, NE
Bill Pohlmann with Debbie Pohlmann

We kept looking online for houses. Debbie found this one in pre-foreclosures. It seemed like a deal, advertised as a two bedroom/2 bath but when we walked we found it was a legal 4 bedroom / 2 bath! The place was a wreck. It had dog damage and holes punched in the sheetrock everywhere, water damage, had been vacant for 18 months. Our mentor is also a FortuneBuilders student and said if we didn't take it he would so we took the jump. In the first step, we had a roof, electrical, furnace, and plumbing inspection to help with the scope of work. Needed a new roof but most of the water damage came from deterioration under the kitchen sink. Brought mechanicals up to code, replaced roof, siding, facia, driveway, and decks. Walls repaired and painted, new doors, new switches and outlets, new flooring, and new stainless appliances. New fixtures, cabinets, granite countertops, and LED lighting

Rehab Details

Property City: Lincoln
Purchase Price: $96,200
Repair Costs $49,200
Holding Costs: $8,447
Sale Price: $195,000

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Case Study

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

We studied the templates and pictured how we wanted this house to look. We used a professional photographer for the "after" pictures. Used the repair estimator both in FortuneBuilders and in Realeflow to estimate repair costs and double check ourselves. We used negotiating skills with the purchase, contractors (along with the six critical documents) and in negotiating the commission down on the sale end. We learned so much from FB that we used on this house. Thanks so much FB team for what I think is the best curriculum in the business! You really give a hands on approach as to be successful in this business.




Before & After Photos