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rehab DEAL

Clifford Thermer

SAJE Enterprises LLC in West Hartford, CT
Clifford Thermer with Cathyrn Thermer, Chris Dupris, Jesse Thermer

While searching a new foreclosure resource, Foreclosures .com, I stumbled upon this property after driving by it the previous day on my way to visit Franklin Pierce University with my son. The property had been picked up in a foreclosure in October of 2017 and was on the market in January with no work done to it. It was a beautiful mess so we went to see it, about two hours from home base. It was sadder than the pictures lead on...that always makes me smile. It is a 5-room, 2 BR 1 Bath ranch on 1 acre near walking distance to a lake that we can see from the front deck. They were asking $79K. It has on odd floor plan, no working heat or well pump and a lot of unfinished starts. It was perfect! We did our homework (repair estimator) and the numbers worked if we could get it for $50K. We closed cash for $50K in 30 days! We closed at 11 am on closing day and had a small army of trades people at the house by 12:30! Yep, we did a lot of work leading up to closing. The owner was happy to let it go, and we are happy to bring new life to this 1946 ranch!

Rehab Details

Property City:
Rindge
Property State:
CT
Purchase Price:
$50,000
Repair Costs:
$55,000
Sale Price:
$175,000
* 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?

While this may be typical for many Mastery students, this was our FIRST deal since joining Mastery last March, almost a year to the day. While we have two properties from prior to joining Mastery, this was the first applying our skills and knowledge - which I wish we had when we got the first two properties. We've made a number of offers during the year, but none panned out...either the numbers didn't work or someone was just quicker on the draw. We've done dozens of repair estimates, learning with each one. It never discouraged us and we have learned A LOT!! Thank you Fortune Builders. A big shout out to two experts Chris Hiebert and Tammy Merk who are so generous with their time and resources. Very helpful in our journey. And a special shout out to the most awesome coach in the world and real gentleman - Bret Alford!!! He has been with us through the frustrations and challenges. A wealth of information and resources, always supportive and patient as he walked me through many different phases along the journey. We finally got the first one, we are confident others will follow, but today it's a special celebration day and we begin to role out our rehab plans! Looking forward to sharing all the before and afters.