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rehab DEAL

Andrea Lane

Red Door House to Home LLC in Long Branch, NJ
Andrea Lane with william Villa,brooke lewis,danielle jenkins

I received a call from a mailer on Monday, followed the seller lead sheet, and determined we had a potential deal. I created a prelim deal analyzer based on pics and information he provided on the phone. I set up a visit for the next morning. We looked at the home and did an on-site analysis and made an offer, it was accepted. We signed a contract that day for $220,000. rnOur plan was to pre-hab the house for $60,000 and put the home on the market in 45-60 days for $360,000. The following day I went to a networking event and presented the house as a win. A fellow fortune builder said they may have a potential buyer. The following day the buyer walked thru and we signed a contract as long as we cleaned the property and house out.rnIt took us almost 3 months to close due to junk and paperwork issues. We closed 4 months after purchase for $330,000.rn

Rehab Details

Property City:
Long Branch
Property State:
NJ
Purchase Price:
$220,000
Repair Costs:
$5,210
Sale Price:
$330,000
* 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?

The FortuneBuilders training processes and procedures allowed us to have the conversation with the seller and gather enough information to move forward. We were able to create a pre-deal analyzer so we could complete our estimate on the spot. Because I network consistently with many people including other FortuneBuilder family members we contracted quickly and put in very little time and money on the deal.