Joe Trevino

Ding Dong Properties Llc in Denton, TX

Joe Trevino with Juanita Trevino

Found this deal on MLS and used my real estate license to communicate directly with sellers agent to find out the story of why home was for sale. It was a probate deal where daughter inherited home and didn’t want to be a landlord. Property was occupied when we seen it and we talked to tenant about raising the rent to just below market rate and if she would stay. She agreed if we made some minor improvements. We negotiated the price down 20k by removing my agent commission, during option period we re-negotiated and put my full commission back in. We used a conventional loan to buy, property appraisal came in higher then our purchase price giving us instant equity. We replace roof, redid the shower, added gutters, new water heater, updated electrical, added new light fixtures, and signed a one lease at the agreed upon amount. Everything was done within 10 days after purchase.

Rental Details

Property City:

Denton

Property State:

TX

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Case Study

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

Using the rehab estimate tools and critical documents played a key role in getting our contractors to give us great prices and stick to schedule. We did very little ourselves and everything was completed within 10 days of purchase.