Kathy Schuck

North Shore Real Estate Solutions in Andover, MA

Kathy Schuck with Alex and Kathy Schuck

We got this from an agent with whom we've bought a house in the past. She reached out to us before she put it on the market and we offered what the sellers were expecting to get plus we waived our contingencies, so there was no "bidding war". We funded the deal through a Hard Money lender and used some of our business money for the downpayment, buying, and holding costs. The terms were excellent, 7.99% interest, and 90% purchase price plus 100% rehab costs. There were a lot of repairs necessary - new rubber roof (which we had never done before), new furnace, electric, kitchen, baths, siding, flooring, etc. The most interesting part of the rehab was an unusual looking house, so we were divided on whether or not to even buy it. One of us could "see the vision" and the other was a little afraid it wouldn't sell. In the end, we got over asking and made a nice profit!

Rehab Details

Property City:

Tyngsboro

Property State:

MA

Purchase Price:

$200,000

Repair Costs:

$130,000

Holding Costs:

$41,000

Sale Price:

$440,000

* 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?

Many of the participants in this deal, were through FortuneBuilders. The realtor who sold it to us was a former FB student. The Buyer's Agent was a former FB student. The GC we used was referred to us by a former FB student. And the Lender was recommended by Fortune Builders - Triumph Capital. And finally, the Buyer's last name is "Fortune". We took that as a good omen!