David Lao

Good Bees Realty LLC in Oakland, CA

David Lao with Zee

We were tracking the property on the MLS for 7 months. The deal was funded with hard money (85% LTV, 100% rehab @ 2.5% origination fees and 9% int. /yr.). We bolstered studs affected by dry rot, added a new roof, new siding, new HVAC, new flooring, new deck, new landscape, new paint, and new windows. This property is unique to our area because it was one of few manufactured homes, which made the investment riskier due to the lack of comparables for the appraiser to use.

Rehab Details

Property City:

Oakland

Property State:

CA

Purchase Price:

$335,815

Repair Costs:

$155,000

Sale Price:

$695,000

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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

We made a few calls to consult coaches on how they would handle high bids from contractors and how they would evaluate the after repair value.