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
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