Daniel's Rehab Deal - FortuneBuilders

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rehab DEAL

Daniel DeVoe

XFactor Real Estate Network LLC in Rancho Santa Fe, CA

Daniel DeVoe with Angela DeVoe,Wit Property Solutions

After reviewing and rejecting multiple deals from a given wholesaler, we identified this project that met our investment criteria. rnThe property is a duplex in an excellent location and had been neglected for several years. Rents were well under market, and we were confident that with cosmetic upgrades, we could increase rents for each of the units, charge additional rent for the three garage spaces, and improve the usage of the laundry room/storage areas. rnSince this is a duplex and one of the tenants will remain for a month, we will work on the units separately and will have rent from at least one unit coming in at all times to help offset our monthly holding costs.rn

Rehab Details

Property City:

San Diego

Property State:

CA

Purchase Price:

$955,000

Repair Costs:

$94,000

Sale Price:

$1,300,000

* 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?

We teamed with another Mastery team that we connected with at the Bootcamp and Immersion events in San Diego. Our hard money lender presented at one of the FB Mastery monthly meetings. We also had a deal review and coaching calls, and we received tremendous support from Nate Harris to advise us in our search for gap funding.