Albert Blake

The Blake Enterprise LLC in Stafford, VA

Albert Blake with Michelle Blake

We purchased this house next door to our previous, pre FortuneBuilders, renovation all cash from the neighbor. She wanted to sell but her ownership was encumbered by the terms of her mother's will. We helped her through the legal process and acquired the house. We quickly gutted it and repaired the foundation. However, within 24 hours of starting the roof replacement, the porch flipped off the front of the house, the whole rear exterior wall caved in, and then, The entire roof imploded, ten minutes after the contractor and I had just finished walking through it! So, what started as a renovation turned into a new construction project. After tussling with the city for the next 3 months, we were able to rebuild a bigger house in 4 months (including a month delay due to COVID-19.) Within 72 hours of listing, we had 5 offers, 3 at $15K over asking. GOD IS GOOD!

Rehab Details

Property City:

Durham

Property State:

NC

Purchase Price:

$38,500

Repair Costs:

$170,000

Holding Costs:

$20,000

Sale Price:

$315,000

* 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?

What resources DIDN'T help us?! Everything FortuneBuilders greatly contributed to our success - the Wholesale & Acquisition and Rehab boot camps where we learned how to use the repair estimator, secure funding with private & hard money lenders, find and vet contractors, utilize the 6 critical documents, access to all the course materials online, and the AWESOME coaches who helped us (they know who they are!), the amazing FB family members who encouraged us along the way (many of whom we now count as friends) - ALL were instrumental in our success navigating this more than challenging endeavor - BOOM!!!!