Sarah Mainhart Rehab Deal

 

Sarah Mainhart Rehab Deal

Fulcrum Home Solutions LLC in Philadelphia, PA
Sarah Mainhart with Stefan Mainhart

We found this deal by executing the MLS offer system. I checked the MLS daily to see new properties coming online. The seller was distressed and was already working with a short sale negotiator. I called the listing agent and made an offer that day. It was a lengthy transaction but eventually, the bank agreed to our price. The home was in a desirable neighborhood but had not been well cared for. We did a full cosmetic renovation and replaced all the mechanicals and systems. We also added HVAC. We closed on the purchase on March 5, 2020, right before the world economy shut down for COVID-19. It was terrifying but we stuck to our systems. We faced delays for permitting, increased materials costs and our GC had a hard time finding guys who wanted to work. However, we "bought right" and we are walking away with a nice profit.

Rehab Details

Property City: Philadelphia
Purchase Price: $93,000
Repair Costs $101,000
Holding Costs: $26,000
Sale Price: $305,000

* 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?

We owe this first deal to our coaches. Our business coach told us to keep making offers and all the real estate coaches who double-checked our deal analyzer coached us through managing our contractor and gave us step-by-step game plans to follow. They instilled the confidence in us to keep moving forward. This has been a dream come true for me personally and the first step in creating my lifestyle by design doing what I love.




Before & After Photos