Charley Honeycutt Rehab Deal

 

Charley Honeycutt Rehab Deal

CHC Equity Group, LLC in Dallas, TX
Charley Honeycutt with Cheryl Honeycutt

We originally found this deal through a wholesaler who was asking $360,000. I went to view the property with the wholesaler and arrived first. Upon arrival, I met one of the owners and gave him my card. Everything fell apart with the wholesalers deal and our offer of $320,000 was rejected by the wholesaler. The owner reached out to us a month later and we closed the deal. This house was a full gut remodel with extensive foundation work. We moved walls, created rooms rewired and replumbed the entire house.

Rehab Details

Property City: Dallas
Purchase Price: $313,000
Repair Costs $135,450
Holding Costs: $65,193
Sale Price: $620,000

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Case Study

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

We followed the original estimator, used the FB Scope of Work and followed the general guidelines of pay after the work is completed, which was a save for us because our original electrician was doing sub-standard work and was caught by the city building inspector. It was necessary to terminate the electrician and hire a new electrician. Our estimated timelines were extended due to inspections and rework but we were ultimately profitable.




Before & After Photos