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Updated almost 11 years ago on . Most recent reply

DeAdria Wright-Davis's profile image
DeAdria Wright-Davis's profile image
DeAdria Wright-Davis
  • Involved In Real Estate
  • from Charlotte, North Carolina
  • Member since Dec 23, 2013
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DeAdria Wright-Davis's profile image
DeAdria Wright-Davis's profile image
DeAdria Wright-Davis
  • Involved In Real Estate
  • from Charlotte, North Carolina
  • Member since Dec 23, 2013
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DeAdria Wright-Davis
  • Involved In Real Estate
  • Charlotte, NC
3
Votes |
21
Posts
Starting Out

First Rehab Real Deal Under Contract

DeAdria Wright-Davis
  • Involved In Real Estate
  • Charlotte, NC
Posted

After planning, planning, and more planning we finally DID something. We partnered with another investor in a different market (family member). We went 50/50 on a Fannie Mae foreclosure.

The numbers:

46k cash purchase price

ARV was 94k

10k rehab cost

1 month rehab timeline

Under contract for 90k / 3k buyer closing cost after 10days on market

Cash came from IRA and old 401k. Not a bad start.

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Tinotenda Arigurinu's profile image
Tinotenda Arigurinu's profile image
Tinotenda Arigurinu
  • Real Estate Investor in Training
  • from Harrisburg, Pennsylvania
  • Member since Oct 21, 2011
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Tinotenda Arigurinu's profile image
Tinotenda Arigurinu's profile image
Tinotenda Arigurinu
  • Real Estate Investor in Training
  • from Harrisburg, Pennsylvania
  • Member since Oct 21, 2011
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Tinotenda Arigurinu
  • Real Estate Investor in Training
  • Harrisburg, PA
10
Votes |
54
Posts
Tinotenda Arigurinu
  • Real Estate Investor in Training
  • Harrisburg, PA
Replied

Congrats, the first of many i hope.

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