FREE ONLINE CLASS
Learn How To Start Investing In Real Estate
FREE ONLINE CLASS
Learn How To Start Investing In Real Estate
Register Now
Close
rehab DEAL

Antonio Del Monaco

Universal Florida Homes LLC in Miami, FL
Antonio Del Monaco with Laura del Monaco,Rosina del Monaco,Louis Magne

This deal was a 4/2 1800 sq ft single family home REO that I bought through a realtor in 2012 for $106K. I took a regular mortgage loan with a bank requiring 20% down, 4% APR fixed for 30 years. I rehabbed it with around $7K, and rented it for $1250 a month, which left me with a 22% cash on cash ROI after paying all expenses. While still rented I began some upgrades in 2016 such as new AC ($3500), and then at the end of 2017 I redid the kitchen and bathrooms and did other renovations ($8K) and replaced the roof after hurricane Irma using my insurance. Sold the property for $230K in April of 2018 to invest the equity in other real estate investments at a higher ROI. I did a 1031 exchange to postpone part of the tax on the gains and I bought 2 townhouses which I am rehabbing now. After I am done rehabbing these properties, I will still have $70K to deploy towards other deals.

Rehab Details

Property City:
Kissimmee
Property State:
FL
Purchase Price:
$106,000
Repair Costs:
$20,000
Sale Price:
$230,000
* 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?

Rob McIntosh and Dennis Hoffman have been our inner circle and field coaches since we joined. They have provided guidance and ideas for our deals. We have worked more closely with Rob with whom we have monthly meetings that has held us accountable for what we have said we were going to do.

Before & After Photos