Jennie Berger

Property People in Chicago, IL

Jennie Berger with Gregory Kyler

This deal was brought to us via one of our Realtors. It was listed on the MLS and was a foreclosure and bankruptcy property. Walking inside this bungalow was a miracle...a miracle because the first time we drove by to visit the property, the seller's agent had left before we got there. So we scheduled a 2nd appointment and the next day discovered THE single worst house we had ever witnessed. The type of house you only hear about in movies or TV… A 1920's brick bungalow (with great bones!)--3 stories plus a 100 ft of backyard and garage--filled from floor to ceiling. With. Stuff. (Mice included). Paid cash & financed the renovations with hard money. We did a full gut rehab, added a large dormer on the back, & widened the front dormer. Finished the basement and built a brand new 2 car garage.

Rehab Details

Property City:

Chicago

Property State:

IL

Purchase Price:

$250,000

Repair Costs:

$205,000

Holding Costs:

$58,000

Sale Price:

$580,000

* 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 had literally JUST put an offer in on this house a few weeks before discovering FortuneBuilders. Attended the free 2-hour seminar, then signed up for the weekend immersion with the fantabulous John DeJulio which was set to take place the weekend after we closed on this house. It all seemed so serendipitous. If it weren't for the free intro (where we received the deal analysis for flips spreadsheet) we could have easily lost (or not made as much) money on this deal by not sticking to our guns with our offer, which happened to beat out 3 other HIGHER offers because our terms were so strong AND flexible.