We found this deal by driving for dollars, we skip traced the owner's information and gave her a call. The owner had lived a very hard life, lost her husband and this property was neglected for a long time, used as a storage unit. She thought she wasn't going to get anything for the house, she was willing to give the house for nothing but she needed to move across the country to be with her sister who was ill. We wanted to her leave with money, so we gave her an offer of $40K and she accepted. The owner asked us for some time to gather her belongings, she ended up cleaning out the property herself and only left old appliances. We had the property tested for asbestos because of the age of the home, and we were knocking down a wall to open up the kitchen to the living and dining room, to give the home a modern open floor plan. We needed to do an asbestos abatement. We also added a master bathroom and bedroom that was permitted as an outdoor patio. We also rehabbed the backyard as well, we put up a brand new fence all along the backyard and side because the previous one was falling over. It not only benefited the new homeowners but the surrounding neighbors as well. Our Fortune Builders Coach Christi Duckett helped guide us with advise and support throughout the remodel of this home.
How did the FortuneBuilders team and resources help you to accomplish this deal?
We utilized the FortuneBuilders training by getting multiple bids on this property for the trades that were needed. We managed our GC with the scope of work that we created. We also partnered with another Fortune Builders student; who was our private money lender on this deal. The deal ended up a Win-Win for all!