Pamela Carithers Wright

Progression Properties LLC in Vero Beach, FL

The deal came through relationships with the family of the deceased owners. I used private money to fund the purchase and rehab costs. The property was an older home built in 1959 and needed to be undated, especially with the electrical. The project was a total gut; the property had been sitting vacant for almost a year, there was mold in the property that had to be removed and treated. Repairs included demolition of all interior walls; rewired house & replaced old electrical fuses with new breaker box; installed insulation and hung new drywall; installed new flooring with waterproof vinyl plank; opened up the kitchen and replaced countertops, cabinets and appliances; replaced both bathrooms; interior and exterior painting; replaced all six interior (6) doors, three (3) exterior doors; replaced the garage door; painted garage floor, front porch & driveway; and landscaped yard.

Rental Details

Property City:

Fort Pierce

Property State:

FL

Purchase Price:

$80,000

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Case Study

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

Through use of the systems instilled at every boot camp, and the system for assessing repairs in less than 30 minutes with estimated costs proved to be invaluable. The six critical documents when dealing with contractors helped to eliminate any problems with contractors and sub-contractors early in the process, and requiring the documentation narrows the selection down a great deal. I was able to minimize problems during the rehab because FortuneBuilders Rehab classes provided so much hands on experience before I ever pulled a permit. This could not have been accomplished without FortuneBuilders!