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rehab DEAL

Renee Degelau

Tropic Coast Home Solutions LLC in Fort Myers, FL
Renee Degelau with Eric Degelau

I found this home through the MLS. It was on the market for over 90 days. The owner had inherited the home after his mother died some years back and he was having a hard time taking care of the property and the liens that have been filed against it. The homeowner was very grateful we purchased the property and we were able to help him out. The deal was funded using a self-directed IRA and a Hard Money Lender. Major repairs included flooring, baths, paint, electrical, plumbing and kitchen.

Rehab Details

Property City:
Cape Coral
Property State:
FL
Purchase Price:
$152,500
Repair Costs:
$48,000
Holding Costs:
$12,700
Sale Price:
$235,000
* 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?

Without FortuneBuilders we would not have the systems in place to make the decision to move forward on this property. It was located in an area we were able to use comparable sales data that benefited the ARV. We tried to wholesale the property first but we were turned down because we were told the comps do not support the ARV we calculated. We were fairly confident in our ARV based on education with Fortune Builders. We were able to sell this property for a price close to our original ARV calculations.

Before & After Photos