Bill Hook Victory

 

Bill Hook Victory

Hooked Up Properties, LLC in McDonald, PA
Bill Hook with Bev Hook

Type(s) of Victory: Reached a personal goal Made my first offer Reached a business goal Got my first deal under contract Closed on my first deal It was just awesome


We started exploring estate auctions with properties that were listed but not sold. We came across a property that was built by a famous designer in a desirable neighborhood, but was in fairly bad shape. This was just a little over a month into our FortuneBuilders adventure. It was also the first house we looked at as an investor. Ever. They had the property listed at $139,900.00 and it had been on the market for some time. We looked everything over based on our FB training and determined that it would cost nearly 70K to rehab it, but had an ARV of around $300K. After a tour of the house (about 20 minutes), we talked in depth to the listing agent and offered him a dual agent position if he could help us close the deal. We explained all the problems with the house and made a 90K offer ($50K under asking). We made the expiration of the offer the evening before the upcoming estate sale since it really was an overlooked diamond in the rough and would not last if widely viewed. Our offer was accepted and signed the night before the sale. We were able to go to the estate sale as buyers of the property and network with possible buyers. There was great interest and we met all the neighbors. Other investors told us that it was a "niche market" and would be hard to sell. We were met with a lot of negative but forged on. Finding money was our next challenge but we finally got it in place for a June 1st closing. We found a buyer through a referral for $290,000.00 (Full Price) a week before closing and signed the agreement right after closing with a $14,500.00 non refundable deposit thus silencing the negative. We also lined up contractors who started the day after closing. The referral will earn $2,900.00 but will save us all commissions, holding and advertising costs. We are now 1/2 way through our flip and things are progressing nicely. Our estimate was on the money and although we have run into problems, our FB training has help us overcome all obstacles. We are currently on track for an August 1st closing date. We realized our dream, recouped all educational investments, made our goal of having a house under contract within 6 months and are moving on. We actually closed on 2 houses the same day when we bought this one. The second will be a buy and hold renovations were funded by a private money lender. No stopping us now. Personal money in the Deal: $2,000.00 hand money Projected profit: $108,000.00 Elation Factor: Priceless


Shout Outs & Testimonials

Without FortuneBuilders we would still be dreaming and not doing. The education was priceless. The tools made it all possible. I was able to walk through my first rehab and be almost dead on with my repair estimate in 20 minutes. Wow. How can I put a price on this education and mindset? We are now helping others get going and trying to move a few new people into the program. I can't wait to learn more and get to my first bootcamp in August.



* 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.