Successful Flip from a Bandit Sign

[Rafael Kyle]

We found this property through our first run of posting bandit signs. After months of minor hurdles, we finally purchased the property using seller finance. We helped relocate the homeowner to another residence and then started on the redevelopment of this property. We were able to finance the repairs through a fellow Fortune Builder's Mastery Student. A few months later and a few minor setbacks, we completed the project and sold the property at our asking price.  Repairs included a full gut of the entire property down to the studs. We installed a brand new roof including all brand new plywood, new wood-look tile flooring, carpet, cabinets, stainless steel appliances, quartz counter tops, windows, new sliding glass door, ceilings fans, fixtures, replastered and new tile to the pool and put in new pump and filter, landscaping, brand new garage door and opened up the kitchen for a more open floor plan plus many other repairs, the list goes on and on.  A major lesson we learned was to schedule the roof contractor earlier as all were at least 4-6 weeks out for installation.  Would love to know your thoughts on this project, it was our biggest project to date and also completed this house while rehabbing others. We currently have 5 rehabs under way and are looking for more!

Property City:	Las Vegas
Property State:	NV
Purchase Price:	$40,000
Repair Costs	$84,000
Holding Costs:	$5,000
Sale Price:	$219,888

[Rafael Kyle]

@Peter Mac  @Noel Fernandez @Solomon Oh  @Maurice Miller  @Kenneth Williams @Account Closed we had only put out 5 signs, and got the call that first night.  It was a very strange situation because the gentlemen who owned the home did not own a cell phone or a house phone. and when we got the call it was 11pm at night, and it was hard to really understand but we had a name and address. The closest payphone to the owners home the cord was cut. The 2nd night we got another call at 3am in the morning with a message hard to make out but said the homeowners name, his wives name and his address and said he did not have a phone to call back on. The number did not show up on my cell. it was an unavailable number. My wife and I decided to drive to the gentlemens house, and we saw him sitting in the front and I introduced myself and asked him if he called me about his home. He told me no he didnt but after talking for a while and seeing the condition of his home, I knew we needed to help this man. He is a disabled Vet who lost his wife back in 2003 and for the last 13 years he has had no running water, eltricitity on and off, the roof was completely distroyed, falling inward. It smelled like 100 potta pottys were in the home. It was one of the worst houses Ive ever seen. After many months be friending the homeowner and helping him get proper health care and a new home and close out the probate (because of his deceased wife) we were able to finally to close and begin work.