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rehab DEAL

Silviu Stanescu

ASAG Property Solutions in Sugar Land, TX
Silviu Stanescu with Adriana Stanescu

We found the deal through our growing network of sellers (agents & wholesalers). This specific purchase was done through a wholesaler and it was a cash purchase. We used our own money as the sellers where very set on not working with any lenders (not even hard money) and this is why we managed to get the deal and beat other slightly higher offers. The house was very well kept despite having been built in 1961, but it had never been updated. We cleaned the house thoroughly, had the a/c repaired and serviced and listed it for sale on the MLS. Our agent did a great job with his marketing as by the 3rd DOM we already had 4 offers at the full asking price. Closed in less than 30 days (hard money lender financed the deal). The deal was interesting as in the beginning we evaluated it to do a full rehab, but then saw it made more sense as a pre-hab and we basically did close to nothing in order to flip the house.

Rehab Details

Property City:
Houston
Property State:
TX
Purchase Price:
$155,000
Repair Costs:
$5,110
Sale Price:
$195,000
* 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 systems learned through FortuneBuilders have been crucial to growing our networks and this means more leads are coming in every day. With the knowledge learned during the practical sessions at our Full Immersion Course and several Bootcamps we have attended we are getting more and more comfortable when evaluating deals, especially repairs, so we do not have to rely 100% on a contractor in order to make offers that would make sense. This knowledge of estimating repairs along with the Deal Analyzer was key to evaluating the numbers and reaching a decision about what was the best between rehabbing or just pre-habbing. The pre-hab strategy was learned at the Chicago Rehab Bootcamp where the second property we visited was a pre-hab and the investor-owner then spoke in class about how they looked at the deal in order to reach the decision of pre-habbing vs full rehab

Before & After Photos