First day out on a Deal!

[Osayi Oyemwense]

I tried closing my first whole sale deal today, actually two! I attempted all in 60minutes!

First House: I was looking at properties in the Prairie View TX area, I found one seller wanting 100k for 3beds 1 bath. I met with him we talked and he was willing to go down, because I told him "we wanted to turn on of those bedrooms to a bathroom appeal to more college renters". We came to a "ehhhhh," okay number. 60k(negotiable with seller) I felt like I hit the jackpot until...........I actually looked up the price of transforming a bedroom to a bathroom..My God.

Second House: I get a call right after leaving the first site from a sweet lady over the phone. I was excited, I came to the house to see two wonderful ladies waiting with a smile. I walked in showed me the house and we started asking about prices. I thought I was speaking with the home owners, to find out one was a broker and the other was the real estate agent. I panicked and knew the deal was to sh__ after that. I walked out with a smile and sweaty hands.

Details: 

3bed 1bath .221acres 

Estimated repairs: 20K

Repairs Bathroom: 40K

Projected ARV: 120k

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