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

Wes Hunt

Mercury Real Estate Solutions in Melbourne, FL
Wes Hunt with Belinda Hunt

This 1902 three-story Victorian home is located in the historic district of Savannah, GA and was initially identified via Zillow.com. We reached out to an agent with whom we have a developed relationship with to view the property. It was a foreclosure and only available through an online auction. The auction hadn't started but the agent was on the ball and notified us as soon as it was available for bidding. There was only one other bidder and we were able to acquire the property for $333K using a hard money loan for $422 plus another $45K in private money. The kitchen and two bathrooms needed a full gut, needed all new electric, plumbing, and HVAC, the roof was bad and the flooring on the third floor was shot. Because it was in the historic district, we were able to get a short term rental permit. The home was sold through Zillow.com for $660K. The new owner is currently renting the property for between $300 and $1,300 per night.

Rehab Details

Property City:
Savannah
Property State:
GA
Purchase Price:
$333,000
Repair Costs:
$140,000
Sale Price:
$660,000
* 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?

FortuneBuilders acquisition and financing training introduced us to the concept of using hard money loans to fund and rehab homes that other lenders would not touch. The deal analyzer for flips was invaluable during our research phase and the rehab estimator provided the accurate numbers we needed to confirm total ARV.

Before & After Photos