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rehab DEAL

Ian Grodman

Good Home Property Solutions in Maplewood, NJ
Ian Grodman with Lisa Mainardi

Maplewood property was brought as a short sale through a realtor and took seven months to close. A local contractor came to ask me to assign the contract to him, but when I did not, he was able to be my private lender. There were no significant structural improvements needed, but a heavier cosmetic overhaul was needed, including brand new kitchen and bathrooms. During the coronavirus crisis, we prepared three-dimensional virtual tours of the property, and advised all realtors that we would wipe down all surfaces with antiseptic after each show, and had disposable rubber gloves and masks for all people seeing the property in person. We had three offers within three days, and are now in contract for significantly over the asking price.

Rehab Details

Property City:
Maplewood/Iselin
Property State:
NJ
Purchase Price:
$200,000
Repair Costs:
$53,000
Holding Costs:
$67,000
Sale Price:
$420,000
* 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?

Fantastic coaching from Coach Bob Reed. The FortuneBuilders systems were especially helpful in evaluating the deals and planning the rehabs.

Before & After Photos