David Fornelli Rehab Deal

 

David Fornelli Rehab Deal

Nopali Properties, LLC in Yucca Valley, CA
David Fornelli with Amanda Fornelli and Oscar Bustos

This deal came from browsing the MLS daily! We submitted an offer at the end of January 2021. Initially, the offer did not get accepted. However, two months later, the listing agent emailed us asking if we were still interested in the deal. We said yes, of course, and after some negotiations, we were able to negotiate the price down ever further! The deal was funded using mostly hard money. Overall, the home was in good shape, needing cosmetic upgrades and a new septic system. We kept watching the market appreciate month after month, as the short term rental market in the hi-desert is red-hot, thus our ARV increasing month after month.

Rehab Details


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Case Study

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

Thanks to our Fortune Builders coaches, we were able to employ some creative financing strategies. Our hard money lender covered a majority of the purchase price and all of the rehab, yet we still needed to raise more funds. The Fortune Builders coaches encouraged to raise business credit, and we were able to use those credit funds at 0% interest for 12 months!




Before & After Photos