Trevaughn Tummings
Homes By Vanzant, LLC
in Philadelphia, PA
I funded the deal with the help of my father. He gave me some of the money he was planning to use for his retirement. He figured the Return On Investment would be worth the risk because the money just sitting in the bank was not growing fast enough. That money was used to purchase and rehab the home. My family and family friends consist of numerous electricians, plumbers, construction workers, etc and I used them to help rehab the property. My realtor helped me sell it within 6 days of putting it on the market and we closed in 30 days. This was my very first rehab and I have learned so much from this experience and I am ready for the next property.
Rehab Details
Property City:
Upper Darby
Property State:
PA
Purchase Price:
$50,000
Repair Costs:
$35,000
Sale Price:
$134,000
Case Study
How did the FortuneBuilders team and resources help you to accomplish this deal?
FortuneBuilders provided me with all the knowledge I needed going into my first rehab and also starting my business in general. I for sure know that I would have no idea how to accurately estimate rehabs or properly organize the rehab process without FortuneBuilders. I certainly would not be so cautious to scan and save as many documents as I have throughout this process. Being prepared is what made the buying and selling of this property the easiest part.
