Marie Baginski Rehab Deal

 

Marie Baginski Rehab Deal

Stellar Property Solutions in Scottsdale, AZ

We purchased this property through a wholesaler. We completely changed the layout of the interior adding a bedroom and bathroom, and opening up the entire living space by removing interior walls. We added a putting green and bocce ball court to the backyard, fixed up the pool and tried to list the property at 550,000 on April 1, 2020. Due to Covid, no viable offers came in, so we decided to furnish and rent it out as a short term rental. We did very well starting in May 2020 and recently got an offer for 740k. This was way more than we expected to initially sell it for and we had to take the deal.

Rehab Details

Property City: Scottsdale
Purchase Price: $335,000
Repair Costs $91,491
Sale Price: $740,000

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Case Study

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

We used a hard money lender to purchase the deal as well as a private lender after learning about PML documents through fortune builders. We refinanced out of the hard money loan a year from the original purchase date, paid back the hard money and private money lender and were holding it as a rental with none of our own cash into the deal!




Before & After Photos