Develop Mental Toughness
Learn From Mistakes
Alicia, Brian and Nicholas-Hilderman
We found this rental by an agent referral. Its a housing voucher home with 100% of the rent paid by the government. All main systems except for A/C are new. With an existing long-term tenant. We purchased with private money and was able to 100% Rifi 5 weeks later. It is projected to pay off in 5 years. Love Passive income!
Michele Fix Rehab Deal Fix Properties in Merriam, KS Michele Fix with Mark Fix
We found this deal through our Facebook marketing. A local real estate agent who was a high school friend of my daughters knew we were in the rehab business. He had a life-changing event and wanted out of his house. We were able to close quickly and pay cash - just what he wanted!
Miia Suuriniemi Rental Deal Hummingbird Prime Properties in Cordova, TN Miia Suuriniemi with Robert Chang
Before we joined the FortuneBuilders family, we had no experience in real estate except for purchasing our primary residence. Regardless of a busy life with our full-time day jobs at a pharmaceutical company and our two lively young daughters, we have used every free moment we found to go through the curriculum and learn as much as we could. In the past 7 months, we have purchased 14 rental properties through Passive Income Club and we are closing on additional 5 rental properties next week, just before the 4th of July! This property is one in our portfolio.
Jacob Skinner Wholesale Deal Building Appalachia in Charleston, WV Jacob Skinner with Jordan Crist
We purchased this property at an auction with borrowed money. We were able to close on the deal pretty quickly. The tri-plex was 1/3 occupied and had $775 in monthly cash flow. We held the property for 3-months and wholesaled it for $60,000.
Gregory Carr Rehab Deal Authentic Homes, LLC in ACWORTH, GA Gregory Carr with Gillian Carr
We found the property through our 'driving for dollars' marketing campaign. The property was being rented for years. The homeowners husband died and she no longer wanted to deal with tenants. She listed her property with a realtor she knew, the first contract fell through due to financing, the second buyer decided not to move forward with the second contract. We were diligent with our follow up and asked the realtor to contact us if anything went wrong. While we were at the Orlando Boot-Camp in 2017 I received a call and a text asking us if we were still interested in the property. Within 24 hours we were under contract, secured private lender who was able to lend us the money and we closed within 21 days.
Karyn Useche Rehab Deal Lightning Property Group in Palm Harbor, FL Karyn Useche with Rosa Acosta
We found this deal on the MLS and it was an easy rehab. We kept the same ceramic tile in the house because it looked fine and only replaced the carpet in the bedroom for laminate. We opened up the kitchen and remodeled the bathroom. The house needed a new roof but after analyzing the deal the numbers were great to us and we decided to offer a little more of asking price to secure the house for us.
Michael Collins Rehab Deal Down Home Investments, LLC in Conway, SC Michael Collins with Cynthia Collins
We found this gem on the MLS. Another FortuneBuilders student had faith in us and funded the whole deal. This project had multiple curve balls. Hurricane Florence showed up in the middle and set us back about a month but by the grace of God, we didn't have any damage. We ended up going over budget however because of the extra profit we had cushioned ourselves with we were able to get out unscathed.
Mariah Joyce Wholesale Deal Marigold Capital Group, LLC. in Beaver Falls, PA
This deal came to me when the Seller called my number that she saw on one of my Bandit Signs. As my first deal with my new entity, I knew that if the Seller was not willing to do a deal with Owner Financing, that I would have to wholesale the deal. After reviewing my two offers--a number in which I would wholesale the deal, and a number I was willing to pay overtime with Seller Financing, they chose the lower price with the quicker payout. The house was in livable condition, but it needed the usual--paint and carpet for sure, and some other important repairs like a new sewer stack, repoint the chimney, and some electrical updates. The house was sold to an end buyer, who was very happy with the price, was an experienced investor, and understood that the deal was a wholesale
Anthony Hirschel Rental Deal Promesso Properties, LLC in Plainfield, IL Anthony Hirschel with Amy J Hirschel
Deal suggested to us by one of our buyer's agents. He was also the listing agent and knew this property had the potential for us. The property was in good condition, just needed cosmetic attention, i.e. paint, new flooring, minor repairs throughout. Property is half of a duplex but, unlike the others, is adjacent to a winding, tree-lined path. Near schools and stores. Friendly neighborhood. The property had multiple applicants the first weekend it was available; ultimately had a bidding war offering to pay more than the rent asked.
Garth Briscoe Rehab Deal Capital Home Buyers, LLC in Clifton Park, NY Garth Briscoe with Gina Briscoe
This deal was brought to us by friends who mailed out a few absentee owner letters. The property was vacant for 5 years and was provided a nice habitat for all sorts of rodents and insects. The seller had received multiple letters over the years from other investors but said he liked theirs, so that's why he called. rnMy friends were not ready for a large rehab project, so they asked us to partner with them. They brought the deal and some funds for the rehab; we did all of the work and funded the purchase and remaining balance of the rehab with funds from one of our private lenders. We split the profit proportionally to the number of funds we each invested. rnThe project took 2 months longer than it should have, but we were very happy with the finished product; if only the buyers Appraisor liked it as much as we did! We had it sold for $469,000 but his appraisal came in at $439,000. rnWe were able to renegotiate with the buyer and split the difference for a final sale price of $454,000 instead of putting the property back on the market and incurring more holding costs. Still a nice profit, but definitely a bummer to give up $15,000!rn
Victor Alves Wholesale Deal Shapeup Home Buyers in San Antonio, TX Victor Alves with Gaspar Rivera
We got this deal through follow-up from our direct mail campaign. After 10 months of follow-up, our persistence paid off. rnThey would only agree to the deal if we could find them a new place to rent, and we were able to. We sold this property to one of our landlord buyers. rn
Melody Riazati Commercial Deal Riazati Homes LLC in Las Vegas, NV
The property was being foreclosed by the first lien holder, it had property back taxes of over $110k, and also had a second lien against the property. We approached the seller and offered to take over the first loan of approximately $600k (but would have that loan paid in full prior to the trustee sale) and have the second lien holder negotiated through a settlement. The seller agreed & our company (RHL) pursued and purchased the 2nd for $50k to be paid at COE and subject to a successful closing. We purchased the property for $800k subject to taking over the first loan of $600k. Out of the seller's proceeds, $110k property taxes was paid, $50k was paid to the second lien holder (second lien holder was very happy), and the seller ended up getting $6k which he wasn't expecting. RHL also received $31,199.81 for being the new 2nd lien holder against the property.
Tsion Tilahun Rental Deal Zions Property Solutions LLC in Charlotte, NC
My first investment property deal actually came from an Airbnb guest I had. We were casually discussing what we did on the side and I mentioned real estate. She mentioned her sister needed to sell her house so she facetimed her and I learned she's in a preforeclosure. I locked up the deal & was in contract with the sister before I saw the house. Because her court date was around the corner, I was able to lock up the deal as a "Subject To". We closed in a week. I had to do the repairs, mostly cosmetics while also adding a bathroom. I purchased it as a 6 bedroom, 1 bath. It now has 2 bath. I made this a BRRRR strategy, where it is now refinanced and rented. Now I'm looking to repeat with my next deal :)
Randall Pike Rental Deal Pike Homes, LLC in Grand Forks, ND
The owner wanted to move the property to increase their cashflow. This was an over/under duplex that had a current tenant downstairs and would be rented upstairs status post sale. I knew the owner through FortuneBuilders Mastery and as a coworker. No repairs were required. This was essentially a turn-key home that showed great potential for return. The property was located in Grand Forks, ND across from a park, close to the University of ND with immediate access to major Interstate roads leading to Grand Forks AFB (20 min), Fargo (75 min), and a short trip to vacation and sporting areas in Canada.
Justin Buchanan Rehab Deal Paige and Rose Property Solutions in Anderson, IN Justin Buchanan with Gina Buchanan
We found this on the MLS and our realtor suggested it. We funded it with cash and a heloc on our home. While this was only a 700 square feet home, we had to replace everything except the windows and siding.
Tashia DeHerrera Rehab Deal Enriched Investments LLC in Denver, CO Tashia DeHerrera with Charles Zaragoza
We went to our local REIA meetup and this property was being wholesaled by a property management company. We immediately contacted our hard money lender to go over the numbers for this property. This property needed meth remediation in order to be in compliance with the State Department of Health. This was a full gut project. We even replaced the framing in the house and the only thing that remained original was the four outer walls. Landscaping was cleaned up and new sod and mulch was installed. We finished the project a few days before Christmas 2017 and we went under contract with the buyer on New Years Eve. This property sold for $5,000.00 over list price. This property was unique due to the meth and being a full gut project for our first deal. Our remediation/repair costs came to be a little over $75,000.00.
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