Rodney Joseph

Sunrise Real Estate Solutions, LLC in Dundalk, MD

Rodney Joseph with N/A

I met a Real Estate agent from Miami through networking. I live in Baltimore but he would send me deals occasionally. I would run the deals through the deal analyzer, though they were good deals they weren’t great deals, especially to complete as my first rehab 1100 miles away. Eventually, he sent me one too good to pass up with a 26% ROI so I flew down and we got it under contract. Things did not go as planned for a variety of reasons and we had to do a much lighter rehab than originally planned. With our limited budget, we focused on the landscaping and exterior as they were in rough shape and totally redid the master bathroom that was dated and in bad shape. We replaced doors, hardware, etc., retiled the fireplace, painted the entire house and changed the flooring in the kitchen. It was unique as it was my first rehab and it was 1100 miles away.

Rehab Details

Property City:

Miami

Property State:

FL

Purchase Price:

$370,000

Repair Costs:

$34,000

Holding Costs:

$65,000

Sale Price:

$490,000

* 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?

I was able to identify a deal with good profit potential using the deal analyzer. While the deal didn't really go as planned and we made a much smaller profit than anticipated with the projected ROI of 26% from the deal analyzer I knew we would have room for error. I had a coaching call with Keith Fiskum to discuss joint ventures and that was very helpful.