Jerry Britt

365 Property Partners in Tampa, FL

Jerry Britt with JR Carrel and Kevin Lee

We found this deal driving for dollars and doing "one off" handwritten letters to property owners. This house is in a historic district and was our first full rehab in an historic district. We did not LOVE the idea of complying with the historic requirements but knew there was opportunity here. According to the numbers, WE ONLY MADE $400. BUT WAIT - THERE'S MORE! This house was on a double lot. We split the lot and we made $400 on the flip AND we now own a lot for FREE. We build new houses and in this area and price range we would typically pay about $40,000 for a lot and make about $50,000 on the deal. Since we got this lot for free, we expect to make about $90,000 on the new build that will take place on the lot that was created by splitting this property. MANY TIMES a deal has made sense for us when it didn't for someone else because we build and know how to value the land.

Rehab Details

Property City:

Tampa

Property State:

FL

Purchase Price:

$158,000

Repair Costs:

$62,600

Holding Costs:

$44,000

Sale Price:

$265,000

* 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 house was a 2 bedroom house but had room to create a 3rd bedroom and make it a 3/2/1. We learned thorugh Fortune Builders case studies that often times there is additional value to be found in a house by making it bigger, or adding a bedroom or bathroom in the existing space.