Shari Niemann

Win Win Real Estate Solutions in Snellville, GA

Shari Niemann with Wayne and Sybil Musatics

We bought this project from a wholesaler. We made an offer $50k less than their asking price and they refused. Two weeks later, they called back and accepted. We found financing through MIRS Group, Mark Abramovich. This project was a cosmetic project... we painted, replaced flooring, kitchen cabinets, vanities, lighting. We did also add a deck and replace the roof. The unique feature of this home was a huge finished basement with a kitchenette. The original budget was $65,000, but due to contractor issues and long delays, our budget and transaction costs were much higher than planned. However, during our rehab, a neighboring home was rehabbed and listed for $35,000 higher than our projected ARV enabling us to raise our asking price as well.

Rehab Details

Property City:

Snellville

Property State:

GA

Purchase Price:

$225,000

Repair Costs:

$95,000

Holding Costs:

$48,682

Sale Price:

$415,000

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Case Study

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

This home was featured during the Atlanta Rehab Bootcamp walkthrough in January 2020. We found our lender through Fortune Builders networking. FortuneBuilders training on repair estimating, calculating ARV, and contingencies helped us to be profitable on this project even though we faced challenges.