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rehab DEAL

Zachary Kibby

ZENH Developments LLC in Sahuarita, AZ
Zachary Kibby with Jerry Kibby and Wendy Kibby

We found this deal by networking through meetup groups and met a realtor pair that wanted to start wholesaling. After meeting with them and showing them our business model, they immediately thought of a house they had just seen and took us to go see it. The homeowner wanted $400k for it but eventually settled at $245k with $5k going to the wholesaler, overall $250k. We used a hard money lender to fund the deal for 85% of total purchase and repairs. The house was in need of a complete makeover. We gutted the house down to its bones opening up several walls, rewiring the entire house, fixing the roof, a lot of plumbing, re-plastering the pool as well as updating everything cosmetic. This house had been vacant for 15 years and resulted in us finding a dead javelina (desert pig), 3 huge live rattlesnakes, an infestation of pack rats, and a bee hive, all inside the house.

Rehab Details

Property City:
Tucson
Property State:
AZ
Purchase Price:
$250,000
Repair Costs:
$160,000
Sale Price:
$513,000
* 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?

We went to several Bootcamps including the rehab Bootcamp twice and the wholesaling and acquisitions Bootcamp where we met some fellow FortuneBuilders members who gave us the contact of their hard money lender. We utilized the networking techniques and met with a realtor team with our credibility packet and went through our business model. Throughout the deal, we identified that paperwork is crucial and used lien waivers as well as contractor agreements to help things progress smoothly.

Before & After Photos