Simon Oppliger

Novus Property Solutions, LLC in Westport, CT

Simon Oppliger with Carolyn Oppliger

This was found on the MLS. It was listed at $169,000, we offered $105,000 and our offer was rejected. Two months later, the listing agent called and said we would have a deal at $115,000. After reviewing our offer and seeing if the ARV had changed, we stuck with our $105,000 offer which was accepted. We funded the deal with our HELOC. Repairs include; new roof, windows, siding, opening walls for an open-kitchen concept and an updated kitchen, and two full baths. We also replaced a substantial amount of sheetrock due to the leaking roof and refinished all wood floors. What was unique about this deal was that we had four offers above asking within the first 48 hours on the market (possibly due to the current COVID-19 pandemic and the mass exodus out of NYC).

Rehab Details

Property City:

Hamden

Property State:

CT

Purchase Price:

$105,000

Repair Costs:

$89,000

Holding Costs:

$22,194

Sale Price:

$270,000

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Case Study

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

Without the Fortunebuilders education and resources, we would never had the confidence and fortitude to stick to our guns and possibly overpaid for the deal.