ALEJANDRO TOMADIN Rental Deal

 

ALEJANDRO TOMADIN Rental Deal

RE HOME SOLUTIONS LLC in Fort Lauderdale, FL
ALEJANDRO TOMADIN with Alex Tomadin & Carmen Penaloza

This property was part of a 3 property portfolio purchase. We wholesaled 2 of them, and kept this property because it had the most living area, and we could add a 4th bedroom to increase the Section 8 rental standard rate. A $22,000 light rehab for section 8 standards was done. It was bought with 20% company funds and 80% private money. We could have funded the whole deal with private lenders but the initial lender we were working with to refinance the property, didn't understand our business model and asked us to have 20% skin in the game before refinancing. Using another lender we should be cashing out $62,000 after repaying the private lender. COW!!!!

Rental Details

Property City: Fort Lauderdale
Purchase Price: $205,000

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Case Study

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

Rehab knowledge learned from FB were part of the project.