Jim Viens Rental Deal


Jim Viens Rental Deal

Integrity Property Solutions in Kansas City, KS
Jim Viens with Kim Viens

Found this sfh (converted to a duplex) on the MLS. I went through the Agent Lead Sheet with the listing agent and gathered as much info as I could. I checked rental rates in the area to see what rents I could get once it was rehabbed then scheduled a walkthrough with the listing agent. I went through it with the Rehab Estimator and came away with and idea of repair costs. I made an offer for $20,000 under list and was informed that another offer was coming in. I knew my numbers well enough to know we could go higher and still have a good deal so I upped my offer to $70,000 (still $10k below list) and it was accepted! We're paying cash right now and will refi that out once we have tenants. Once we have the mortgage in place it should cash flow about $1000/mo with a 14% return! Now for the reno and getting tenants! Deal #1 DONE!

Rental Details

Property City: Kansas City
Purchase Price: $70,000

* 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?

The Rehab Estimator and Agent Lead Sheet were both very instrumental to me having the confidence that I had all the data I needed to make a good decision.