In May of 2018, we found a 1901 Historic Home in the Town of Dyer, Indiana we purchased it for $67,500, with an ARV of $250K. The house was built by a stone mason, and most of the walls were stone and brick and lots of character. However, the home needed a lot of work which caused some challenges. We initially wanted to give an open concept through the first floor, however, it was not possible because of the build of the home. We were still able to complete the rehab and created a beautiful home for a potential Buyer. We spent a $100K in repairs and upgrades, this deal was funded through a hard money lender.
How did the FortuneBuilders team and resources help you to accomplish this deal?
There were other challenges but thanks to FortuneBuilders for their knowledge in building a more detailed SOW we were able to meet all the challenges, keep going and complete all benchmarks in a timely manner. Receiving our Draws and completing the project. We listed this home for $259K and sold it for $222K.