Dee Willard-Ruffin Rehab Deal

Rehab Details

Property City: Waldorf
Purchase Price: $130,000
Repair Costs $76,231
Holding Costs: $7,576
Sale Price: $295,000

* 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 you find and structure the financing of this deal?

My regular private lender funded the deal

Provide a summary of the repairs and improvements you made to the property.

We gutted the kitchen and bathrooms throughout the house. We redesigned the kitchen to give it an open look. We repaired the pool and made it functional, abated the asbestos that were in the floor tiles on two levels of the house, repaired the deck, installed a brand new roof, new hardwood floors, custom tile in the bathrooms, new stainless steel appliances, installed recessed lights in the living room, kitchen and basement and put a bioblaze fireplace on the dry slate wall we built in the basement.

How did you find a buyer for the property if you sold it?

We listed the property for 279,900. The buyer was found when the property was listed on the MLS. My agent held the Open House 2 days after listing it and we received 5 offers. We ratified the contract at 305k however, the appraisal came in at 295k and it was an FHA appraisal

What are some of the major lessons learned that you would like to share with other students that they can learn from?

We underestimated the cost of the pool and did not have the asbestos abatement in the budget however we still did well because we purchased the house at the right price. Always build in a contingency for the unknowns.

Shout Outs & Testimonials

Huge shoutout to all the coaches I have worked with along with my good buddy Ralph Plumb for his knowledge and encouragement as I continue on this journey to build my Empire!!!

Before & After Photos