Yvonne Mikula Rehab Deal

 

Yvonne Mikula Rehab Deal

Select Home Solution in Warren, MI
Yvonne Mikula with Kevin Mikula

We have an investor friendly realtor who brought us this deal off the MLS. We purchased the property with a HELOC. We used a business line of credit to fund the repairs. The interior and exterior was painted. New flooring, cabinets, garage door and opener. This property had a very large laundry room off the back. We were actually able to add a second full bath and keep the laundry room which added huge value to the property. We put 100K into the property between pp, repairs, closing costs. Property appraised for 125K. We received a check for $88,687 for cash out refinance. Rent in the area for this size property on average $1200/month. We had over 100 applicants. 35 showed up at the open house. We were offered $1400/month. Cash flow after taxes/insurance/mortgage equal to $750/month.

Rehab Details


* 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?

We learned the BRRRR method through FB education. How to use the deal analyzer to evaluate profitability of a property. FB also taught us options on how to fund our deals. This is our 3rd BRRR.




Before & After Photos