Rose Morningstar Rehab Deal

 

Rose Morningstar Rehab Deal

R Home Solutions in Smelterville , ID
Rose Morningstar with Ryan Eicher

This property is located in North Idaho. Our realtors had been working on getting the deal for almost a year. Once the owner was ready they brought it to us. This was a unique property with so much potential. It is on 13 acres with no visible neighbors and it has city sewer & water. We instantly fell in love with it! The house was a full gut, 3 story log home. We turned it into a 4/3.5 with a family room & bonus room upstairs with a total sq ft of 3,600. There was also a 40X40 shop on the property that we did not do any repairs to. Our contractors did $108,500 of the repairs & we did the rest. A few of the challenges we ran into were 1. It was originally built out of custom rough milled logs & hand milled floor joist so nothing was square or level. 2. The drainage was not done correctly so sealing & backfulling the foundation was nessesary but challenging during a snowy winter.

Rehab Details

Property City: Smelterville
Purchase Price: $209,000
Repair Costs $131,527
Holding Costs: $61,870
Sale Price: $575,000

* 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?

They provided us with a solid foundation of tried & true systems. As well as a toolbox of solutions to fall back on when we ran into challenges.




Before & After Photos