FREE ONLINE CLASS
Learn How To Start Investing In Real Estate
FREE ONLINE CLASS
Learn How To Start Investing In Real Estate
rehab DEAL

Doug Ladret

Sharper Edge Home Solutions in Monument, CO
Doug Ladret with Lara Ladret

We'd built a good report with a wholesaler. Got a call saying we were close but were outbid unless we wanted to add a couple thousand. The numbers still made sense so we went for it; however, all our funds were tied up so our realtor and another friend jumped in as private money lender for the down payment and rehab costs along with our regular hard money lender funding. The seller must have only packed a couple of suitcases and walked out the door because the place was absolutely full. Dozens and dozens of dresses, hats, shoes, furniture, pictures, scuba gear, wine. Dozens of wine & cheese serving sets, a bar, Christmas nick-nacks for days. Took a long time to clear out the place - held 3 days of garage sales. Then got to work totally updating the place, opening up the kitchen, leveling out the basement, new throughout. Initial conservative after repair value was $265k, the market took it up to $285k, closed for $295k.

Rehab Details

Property City:
Colorado Springs
Property State:
CO
Purchase Price:
$182,000
Repair Costs:
$36,566
Holding Costs:
$15,217
Sale Price:
$295,000
* 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?

This was potentially the "one deal too many" situation. This made 5 properties in different states of renovation all at once and we had only flipped 3 in total since we began with FortuneBuilders. We used and trusted our comp analysis and Repair Estimator. We tapped into other people's money and found friends who were more than willing to invest. Over the years in our other job as International level sports coaches, we always tried to treat people right. FortuneBuilders teaches the same mindset in dealing with everyone we come in contact with. This way of being helped us secure the funds to purchase the property. It also served us well on the sale since the buying agent was a former international level skater who remembered us and made the deal run super smooth with her first-time buyer.

Before & After Photos