Howard (Bud)'s Rehab Deal - FortuneBuilders

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rehab DEAL

Howard (Bud) Evans

JKS Homes, LLC in Cinnaminson, NJ

Howard (Bud) Evans with Stephanie Evans

This property was found through a South Jersey Real Estate Association meetup where I networked with several wholesalers and found an appropriate deal. (Good Deal) . After speaking with Jeff Forrest owner of JDF Properties and his Wife Donna, I asked if I could look at previous deals and potentially see anything they have in the queue. This property was sent to me the next day. I did my due diligence and made an offer as soon as I completed the walk-through. Before I left the property, I had them sign my offer sheet and wrote an escrow check. I closed in three weeks. It took 6 months and $105K but was worth every moment and dollar spent as it sold in 6 days and closed in 27 days $15K over ARV!!

Rehab Details

Property City:

Audubon

Property State:

NJ

Purchase Price:

$115,000

Repair Costs:

$105,000

Sale Price:

$265,000

* 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?

This property was sent through the deal analyzer. This was my first flip so I utilized everything in the FortuneBuilders queue on this project. I started with the search for a GC, got a labor quote, had my SOW completed in 3 days (38 pages long). Downloaded the 6 critical documents from the site and got them signed. Using coaches at least 2x a week kept me on pace through completion. Only setbacks - HVAC crew took a month off for Christmas increased holding, then a buried oil tank. The original estimate for construction was $75,000. An exhaust chimney fell through the roof, mechanical room and into the kitchen - $20K; buried oil tank - $10K. But, today it sold!! ARV was $250K - Sold at $265K!! #CAW!!