FREE ONLINE CLASS
Learn How To Start Investing In Real Estate
FREE ONLINE CLASS
Learn How To Start Investing In Real Estate
rehab DEAL

Steve Lively III

Dynamic Property Resources in Hideaway, TX
Steve Lively III with Bonnie Lively

This deal was from a realtor friend who was talking to another agent in her office, who said she had someone needing to sell their uncle's house and just wanted out. Our realtor told her she had a buyer! Come to find out, we were friends with the other realtor as well. We got a construction loan from the bank for purchase and rehab, but before we could start work, someone showed interest in buying it as is, so we decided to test the market. This was just when housing prices were starting to sore in our area. After holding it for 2 months while interviewing contractors, we had a offer for $98,000 more than we paid for it. Then we had to pay back our construction loan. A few things had to be done in order for their lender to approve the purchase so we took care of them and got the house sold!

Rehab Details

Property City:
Lindale
Property State:
TX
Purchase Price:
$115,000
Repair Costs:
$3,264
Holding Costs:
$1,000
Sale Price:
$213,000
* 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?

Better to take a sure offer now and make good money than to wait several months, do the work and get about the same amount of money in the end. This was basically a 2 closing wholesale!