Jeff Cliffe

Align Property Group, LLC in New Bern, NC

Jeff Cliffe with Tina S. Cliffe

We found this house on the MLS. We negotiated the contract the same day that the distressed seller listed the house. Tina, my wife, and my business partner is a realtor in the local area, so it was an easy request to walk this house. Once we completed the renovation, we fell in love with the house. It was probably not the best business decision, but we moved in and sold the house to ourselves. We were already looking for another primary residence in the area. After our purchase, we paid off all our expenses and kept $13,000 of the remaining $46,000 in equity and reduced our monthly mortgage from our previous residence from $2,000 to $1,000. Thus, we are saving more money every month on the mortgage and drastically reduced our debt to income ratio.

Rehab Details

Property City:

New Bern

Property State:

NC

Purchase Price:

$151,500

Repair Costs:

$35,000

Holding Costs:

$3,166

Sale Price:

$225,000

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Case Study

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

The Real Estate Experts and Business coaches assisted by helping us think through the process.