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rehab DEAL

Jerry Britt

365 Property Partners in Tampa, FL

This is listed as a rehab because New Construction is not an option. We bought a double lot that was vacant and split it. This is one of the houses we built on it. We found this deal via networking. A commercial Realtor that I met in 2012 when I was considering moving the manufacturing business that I owned at that time brought this deal to us. We have stayed in touch since them. When I moved our company into our current office complex about 3 years ago, it is the complex that her office is in. She became aware of this property because a friend of hers was getting a divorce and needed to sell it. He mentioned it to her because she's a Realtor. He didn't understand commercial vs. residential. BUT she knew someone. I made an offer and she got him to pay her out of his $72,000 I paid for these two lots. She made a couple thousand dollars for making one call. She knew who to call.

Rehab Details

Property City:
Tampa
Property State:
FL
Purchase Price:
$36,000
Repair Costs:
$180,780
Holding Costs:
$48,775
Sale Price:
$358,000
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Case Study

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

I would have never known how to evaluate and buy vacant lots without the knowledge I learned from Fortune Builders, both directly and indirectly. As a matter of Paying It Forward, as I am writing this, I am speaking tomorrow night at a local REI made up of Fortune Builders about how I find and evaluate new build opportunities.

Before & After Photos