Diana Tinker Rehab Deal

 

Diana Tinker Rehab Deal

Houze 2 Home Solutions LLC in Sherman Oaks, CA
Diana Tinker with Monroe Tinker

We purchased this home back 2005 & lived in it until 2015. Decided to rent it & did some upgrades. Same tenant until she decided not to renew the lease and purchased her own home. Wanting more rentals but turn key properties moving forward, we decided to do a rehab from what we have learned from FB to list for sale. Our market and data/comps for 2bed/2bath 1270 sf were pretty solid for a quick sale with the upgrades. We would have been happy to walk away with $950K. I love designing and chose some items that would pop in the design and it certainly paid off. Completely gutted both bathrooms, new interior paint, new recess lights throughout, refinished wood floors, new faces for 2 fireplaces, new kitchen appliances and new driveway toward backyard. We funded the deal with our own money we were going to use for a 2nd turnkey property. This deal allows us to purchase several!!!

Rehab Details

Property City: Sherman Oaks
Purchase Price: $572,000
Repair Costs $41,000
Sale Price: $1,145,000

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Case Study

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

We joined fortune builders in 2019 and learned about the passive income club and wanted more turn key properties. We purchased our first out of state in Jacksonville, Florida this past January with John and the passive income club. We were about to purchase our 2nd and since our tenant decided to move, we changed plans to allow us to have more proceeds from the sale to purchase several turn-key which we will be doing with a 1031 exchange. Fortune builders has allowed us to learn how to make the moves we have been wanting to but we needed the tools to succeed! We are on our way. We gave ourselves a goal to have 5 turn-key in the 5 years, but now we may be able to achieve that in 1 year.




Before & After Photos