Steve & Cathy Paglia

New Life Integrity Homes in PRESCOTT, AZ

We discovered this cute 1350 square-foot deal the first day it hit the MLS through an agent on our team and offered cash from our HML the same day. It was a partial gut, and everything needed to be new - drywall, floors, kitchen, baths - everything replaced. New HVAC was added, updated plumbing from galvanized to PEX. We reconfigured the kitchen and switched the master bedroom and bathroom to the larger bedroom. We used Subs for the drywall, kitchen, and floor. We did everything else ourselves because GC and general labor in this market are very high, and everyone is busy and turning down work. We budgeted a 5-month rehab, but it took 12 months, which doubled our interest payments. It was a great learning experience, but hard to see the finish line. Once we finished - except for the landscape - we used what we learned from IQA to pre-market it. We accepted a cash offer on the 3rd day!

Rehab Details

Property City:

Prescott

Property State:

AZ

Purchase Price:

$215,000

Repair Costs:

$55,300

Holding Costs:

$24,200

Sale Price:

$346,000

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Case Study

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

The FortuneBuilders coaches and network were so helpful and encouraging, with practical guidance, next steps, and helping keep perspective. Thanks Ammon Brimhall, Cheryl O'Hearn, JoAnna Anderson, Bob Reed, William Shield, Chad Tate and others!