Angela Holladay

Real Legacy Homes, LLC in Columbia, SC

Angela Holladay with Itzel Alicea

Real Legacy Homes, LLC is excited to say that we have another closed one on the books. This is an interesting one where our initial exit strategy was to buy and hold after renovations. We planned to rent out as student housing, so our renovations were not extravagant or costly. Our appraisal and after repair value for this house upon buying on November 20, 2019, was $141K. During the 30 day renovation, there were 3 closings that took place that allowed the value of this house to raise over $40K without us using a full renovation budget - $10,000 less to be exact. We decided to list this house on the market instead and had a contract within 3 days of the full asking price of $185K. This is how crazy good the market could be in our favor in such a short period of time and how important it is to watch your surrounding comps all throughout the process.

Rehab Details

Property City:

Columbia

Property State:

SC

Purchase Price:

$94,000

Repair Costs:

$25,000

Holding Costs:

$21,000

Sale Price:

$185,000

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Case Study

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

Our education, coaching, resources, and lenders helped us accomplish this deal. We could have kept this house in our portfolio for eventual student housing, but instead, we decided to walk away with a much higher profit because it made more sense to us at the time. FortuneBuilders education and coaches have taught us to always look at multiple exit strategies and never get stuck. In 1.5 years, we've had 16 acquisitions and currently have 2 under contract. We love what we do and do what we love!