Gary Massari
REI Fortunes LLC
in Danville, CA
This home came from my realtor network on the MLS. The deal was funded using hard money at 85% of the purchase price and 100% of the rehab cost. A PML was used for $250K paying 10% as Gap funds. The 2-bed, 2-bath bungalow was converted into a 3-bed, 2-bath home. A master suite was added, which included a bathroom, walk-in closet, exercise room, and a small office. We remodeled the kitchen and added custom cabinets, GE café appliances, and a cooktop peninsula. All of the bathrooms were remodeled and we added a spa shower in the master bath. The interior and exterior were painted and all new landscaping was completed.
Rehab Details
Property City:
Berkeley
Property State:
CA
Purchase Price:
$985,000
Repair Costs:
$178,840
Holding Costs:
$178,385
Sale Price:
$1,490,000
Case Study
How did the FortuneBuilders team and resources help you to accomplish this deal?
FortuneBuilders was very instrumental in the success of this home. After rehab Bootcamp and used a lot of sizzle items to make this a hot home (Redfin called in HOT). I used the deal analyzer to evaluate the deal and do my cost estimates. I used the detail SOW from our site to put the whole package together. I used the 6 critical documents for my subcontractors. As a result of using our systems, I finished the project in 90 days and sold it for 23 days. The best part is I sold it $100,000 over the listing price.
