RER Elite Mentoring Graduate
This DGI Graduate found this deal from a court listing. By helping the owner and making the process as easy as possible a positive outcome was achieved for both parties. The plan was to go in clean the house and renovate, then getting it on the market for a fast turnover.
These costs include the purchase price, stamp duty, holdings, renovations and relevant adjustments, including the selling costs.
|Reno costs (cosmetic):||$34,000|
|Selling Fee + Styling||$14,000|
|Mortgage + Costs Payout:||$263,000|
|Payout to owner||$38,000|
|Return to money partners:||$26,000 (4 months)|
Before and after photos from the renovations
Living room before
Living room after
Top 4 Learnings:
- Deals can go pretty smooth (legal side and paperwork, easiest one done)
- Smokers in a home need extra painting and cleaning
- People can be overly fond of their pets
- This is probably the cleanest cut deal I have had with dealing with the owners and probably the worst house to renovate. Its amazing what a simple renovation can do!