This was a rehab project that we did with our student Antonio Lopez. Antonio found the property as a Pre-Foreclosure with the homeowner facing foreclosure. We did a Short Sale on the property and got the Short Sale approved in about 3 months. We closed on the property and started the rehab as we knew we would make a good profit on this property considering the price and the area the property was located. The property didn’t need a major rehab, which was another reason we knew we would make a nice profit. The rehab took us about 30 days. We held an open house and had the property locked up in contract with the end buyer in about 3 days!
We made $58,000 on this 30 day rehab!! As part of our mentor program, Antonio did not have to put up any funds as we put up every dollar on every project for our students!!