Manjit Rukhra Rehab Deal

Rehab Details

Property City: Winnipeg
Purchase Price: $117,900
Repair Costs $34,975
Holding Costs: $2,900
Sale Price: $200,000

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Case Study

How did you find and structure the financing of this deal?

We were in a position to buy cash so all we had to do was run this deal by are private lender and once he ok'd it we were good to go.

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

- new siding for the house -full bathroom in the basement -new bedroom in the basement -new high efficiency furnace -counter tops in the kitchen with new sink -laminate flooring on the main floor living room -new windows throughout the house -newly renovated half bath upstairs and full bath on main floor -new paint throughout the house -new carpet on third floor

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

Our agent who initially found us the deal brought a buyer to us.

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

I would say have a good relationship with your realtor(s), contractor and business partners. Communication is key and when dealing with high ticket items lots of emotions can get in the way. Open communication helps you with your business dealings. Also be on top of your contractor and be very detailed to what you had set out for them to do (scoop of work). As time passes that area of your business can get fuzzy.

Before & After Photos