Autumn Gibson Rehab Deal

 

Autumn Gibson Rehab Deal

Solid Foundations Redevelopment, LLC in Naples, FL
Autumn Gibson with Charles & Autumn Gibson, Stan Lieberfarb

This deal was brought to us by a long time friend. It was his fathers house. The house had been sitting vacant for 8+ years. The property sits on 5 acres, The main house was 6 bed, 5 bath, 5400 SQFT plus den and 1000 SQFT Game/bonus room as well as a 5400 SQFT, two story, CBS out building with an office, full bath, W/D, two large garage bays, a 40ft RV bay, a car lift, and 2200SQFT open space upstairs, . We basically replaced everything. New Roofs on both buildings. Repainted inside and out of both buildings. New flooring, New Kitchen, Remodeled all Bathrooms, removed a bathroom, reconfigured the kitchen & Master Bath, Moved bedroom door to add corner barn doors. Removed window and added stone wall & Electric fireplace. Refinished the pool and deck. Added pavers and stone to. Added sprinklers to half of the property. Added stone columns and motorized entry gate and Landscaping.

Rehab Details

Property City: Naples
Purchase Price: $700,000
Repair Costs $489,500
Holding Costs: $408,500
Sale Price: $1,950,000

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Case Study

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

We jumped into this deal as soon as started with FB. I think the FB systems gave us the confidence to take on such a large project right out of the gate. We had several coaching calls and a deal review, all of which were met with caution due to the uniqueness of the property and the lack of comps. We trusted our numbers and watched the market and made decisions based on the knowledge we gained through FB as well as our 50 years of experience in this market.




Before & After Photos