1. FortuneBuilders Mastery
Presenter Info:
Fola Adunola
Core Capital Group LLC
8th ST. NW Washington, DC

2. Deal Overview Sale Price: Purchase Price: Repair Cost: Financing Cost:
Total Profit:
Completion Time:
$579,999
$205,000
$153,101
$26,074
$161,000
4 Months

3. Marketing - How We Found the Deal
Found the property through a flyer campaign to the neighborhood
It was owned by 3 siblings and the older sibling one resided in the property recently passed
Younger sibling came to town from Florida for brother’s funeral and called when he saw the flyer

4. Acquisition – Seller Negotiations
We went out the next day after we got the call
This was a pretty easy deal to negotiate since the sellers were pretty motivated to sell
Seller wanted 215k, negotiated down to 205k and he signed the offer immediately

5. Financing – How We Funded the Deal
We used one of our local hard money lender; He financed 100% of purchase price and rehab, charged 3 points upfront and 15% interest
We used the deal analyzer to ensure our purchase price was within preferred limits, all costs were accounted for on analyzer so no surprises
Midstream lender wanted to increase interest rate of 18%, he couldn’t give me any reasons why and I threated to take the deal elsewhere.

6. Before Rehab…
This particular house was built in the 30’s and most of the row houses have a very funky layout.
We went in with our architect and changed the entire layout of the house.
We added another bathroom upstairs and opened up all the walls, which gave it a nice open floor plan.

7. Rehab – Rehab Management Overview
The rehab cost us $153,000.
Had to fire the first GC after just 10 days on the project because of he was just not performing
Lost one week trying to find another GC but found one who was competent enough to do the job.

8. After Rehab…
Staging is key and I think that’s what sold the house.

9. Sale – How We Sold The Deal
Sent s to all RE agent that sold a house in the same subdivision within the past 90 days
Gave them a chance to preview listing and bring potential clients by
Networked with other agents
Listed on MLS
Got multiple offers within the first 2 days
Accepted the offer from one of the agents we had networked with
Always talk to the loan officer before signing the offer
Called loan officer and asked questions
What happens if one appraisal come back less than the first?

10. Questions? Presenter Info: 8th ST. NW Washington DC 20011 Fola Adunola
Core Capital Group LLC
8th ST. NW Washington DC 20011