Jerry Britt Rehab Deal
365 Property Partners
in Tampa, FL
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.