Simon Oppliger Rehab Deal

 

Simon Oppliger Rehab Deal

Novus Property Solutions in Fairfield, CT
Simon Oppliger with Carolyn Oppliger

This deal was brought to us by a wholesaler and was partially financed with a hard money lender. There were wetlands on the property which drew out the permitting process. This was exasperated by COVID 19 as in-person meetings with town officials were not possible; it took us 4 months before we could get started on the rehab. We bought a totally gutted 3 brm, 2 bath cape, put in a dormer on the back of the house, finished the basement and turned it into a 3 brm, 3 ½ bath house. Because of the wetlands we had to add a water detention system, which we installed under a newly paved driveway. We also added an oversized deck.

Rehab Details

Property City: Fairfield
Purchase Price: $305,000
Repair Costs $182,000
Holding Costs: $91,000
Sale Price: $710,000

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Case Study

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

Having been able to analyze the deal properly before we bought it not only protected our profit margin but also gave us the confidence that things would turn out OK despite several unexpected issues during the project. This was all due to the intensive training and invaluable information provided at all the bootcamps we have attended over the years.




Before & After Photos