FortuneBuilders

Jerry Britt Rehab Deal

Bought this from another Fortune Builder. It was a pair of FBs, one was out of town. They ended up in over their head. We bought it as they were about to lose it and ruin the one partners credit. It was a MAJOR rebuild and there were many hidden problems. The seller didn't try to hide them, but until we got further into the deal, we could not identify everything. Thankfully we financed this deal with our primary Private Lender. They ended up making $91,000 in interest. This deal cost too much & took TOO long. Not all deals turn a profit. We made a nice profit on other deals, but on this one, we helped another investor and we met a GC and a partner on a future deal that made us about $70K. So between the two we approximately broke even. Fail Forward. This was about our 40th deal, and we survived, but we lost money. Not every deal is great, but there are still wins to be found in losses.

Rehab Details

Property City:	Tampa
Purchase Price:	$165,000
Repair Costs	$265,000
Holding Costs:	$119,800
Sale Price:	$480,000
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?

I met the sellers through Fortune Builders. We used this highly visible property in the neighborhood to post signs and meet other contractors and investors. This property that lost us money, found us other partners and we accepted that this horrible eyesore in the neighborhood served as a bill board for our company and helped us build notoriety in the community where we do a lot of work. They neighbors and contractors don't know we lost money. They just know we solved a problem. CAW - even when we lostmoney, we found a way to make that much back on another deal that we would have NEVER found had we not been working on this deal.

Jerry Britt Rehab Deal