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rehab DEAL

Alex Gibson

Evergreen Property Solutions in Boston, MA

I found the deal on the MLS and after getting into a good rapport with the listing agent, the second time I submitted my offer they accepted well below the asking price. The property needed a complete overall including all new electrical, a new heating system, all new plumbing, roof, and windows. I also refinished the basement to add considerable square footage. I was able to fund the deal using private money at a reasonable rate. The house was on a great lot in a very nice neighborhood next to a beautiful lake and town beach so I knew if I could get it at the right price it would be an easier sell once it was all fixed up. I was able to find my end buyer after getting a call off a marketing sign I posted in the front yard and closed without sellers or buyers agents being involved so there where no agent commissions are taken out. The buyers wanted to put some sweat equity of their own into the home as they had discovered it before completion and the couple owned a painting business so I ended up selling it to them unpainted and without appliances but still over my originally anticipated ARV! This also helped me save on holding and staging costs. rn

Rehab Details

Property City:
Dudley
Property State:
MA
Purchase Price:
$112,500
Repair Costs:
$83,000
Sale Price:
$265,000
* 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?

The local Fortune Builders community helped me immensely throughout this entire process. Thanks to the networking I had done leading up to the time of my offer's acceptance, I was able to rely on the expertise of more experienced rehabbers to help me estimate my repairs and make suggestions throughout the rehab process. Ultimately, I would say the support of those who helped me evaluate the opportunity gave me the confidence to move forward with the purchase of my first rehab. Additionally, coach Tammy Merk guided me through some of the more technical aspects of contractor hiring and rehab management in the early stages. Big shout out to all those who played a partrn

Before & After Photos