Dorothy Butala

White Birch Holdings in Erie, PA

I mailed letters to apartment complexes in Sept 2020 in my area that were owned for at least 10 years, and ones that I felt I would feel proud to own. A few weeks after the first letter, I received a call from a gentleman who said he was going to sell the property in the spring, but we worked out a deal and went under contract in December 2020. The deal was funded through agency debt and syndication. Most of the property was tired and just needed cosmetic updates to maximize the monthly rent rates. Each unit has been allocated $5000 to update. Currently all the rents are anywhere from $75-$150 under market.

Rental Details

Property City:

Erie

Property State:

PA

Purchase Price:

$1,375,000

* These examples depicting income or earnings are NOT to be interpreted as common, typical, expected, or normal for an average student. Although we have numerous documented successful deals from our coaching students, we cannot track all of our students’ results, and therefore cannot provide a typical result. You should assume that the average person makes little to no money or could lose money as there is work and risk associated with investing in real estate. The students depicted have participated in advanced FortuneBuilders’ training and coaching. The participants shown are not paid for their stories; however, some of the students depicted may also be a FortuneBuilders' coach, and our coaches are compensated for their services. We believe in full transparency, so please read our Earnings and Income Disclaimers and Terms of Use

Case Study

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

Fortune Builders helped with the understanding and use of direct mail, as well as analyzing updates and repairs needed to maximize the potential of each unit and the property over all.