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rehab DEAL

George Herchenroether

Old Town Properties, LLC in Naugatuck , CT
George Herchenroether with Lisa Herchenroether

This deal was found through a contractor whom we worked with previously. The owner of the home was using it as a rental for his daughter. He discovered the pipes had burst when he was about to put it on the market. Rather than putting it on the market he reached out to our contractor who in turn reached out to us. We reviewed the property and offered a seller finance option which the seller agreed to. We completely renovated the entire house. Taking all lower rooms down to the studs. The kitchen was remodeled which included all new appliances, layout, and granite. The upstairs bathroom was also expanded. The entire house was insulated from the walk-up attic to the basement, new drywall, and paint throughout the home as well. The historical charm was kept while updating to new homebuyer's standards even adding a window seat in the living room.

Rehab Details

Property City:
Old Town
Property State:
ME
Purchase Price:
$70,000
Repair Costs:
$70,000
Holding Costs:
$24,000
Sale Price:
$200,000
* 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?

Worked with the coaches on how to structure the seller finance deal. It also helped with rehab management.

Before & After Photos