Drew Iannatti Victory

 

Drew Iannatti Victory

Port Property Solutions, Inc. in Norfolk, VA
Drew Iannatti with Pat Iannatti

Type(s) of Victory: Sold another deal


3565 Riverside Drive, Norfolk, VA Had this deal brought to us by our fantastic realtor. This property was a REO for sale on the MLS. We inspected the property and made the call to submit an offer of 112,500 and got the property under contract for 115,600. Used a Hard Money Lender to fund to deal. There was very minor work that needed to be done to the property. Rehab budget was around 15,000. We went in re floored the entire house, installed a tile shower in bathroom, new paint, new appliances, and a very hard cleaning. One big sizzle feature for us on this property was the red glass hanging bar light, really made the kitchen pop. Completion took a little longer than expected at about a month. Once completed we listed it back on the market at 175,000 and with in seven days had a offer in hand for 165,000. The realtor negotiated them up some to 168,000. SOLD, total timeframe from writing the offer on the property to the resale closing was 3 months. Walked away with a nice profit of 14,000.



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