Rental Rehab Wholesale In Ayden NC

[Scott Johnson]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $16,500
Sale price: $27,000

This was a legacy lead that came back to us. We made our offer in 2019 and the seller declined it. A year later, she hunts us down at our local farmers market and asks if we still wanted the property! Her aunt had passed away and left this property to her. We got the property under contract and assigned that contract to one of our regular buyers. This is a buyer that we also assist with their rehabs so we can learn.

What made you interested in investing in this type of deal?

Wholesales is a great strategy to shore up capital for investments.

How did you find this deal and how did you negotiate it?

We'd called her FSBO sign originally and walked through in 2019. She declined our offer, hunted us down in 2020 and we consumated the deal.

How did you finance this deal?

Buyer financed

How did you add value to the deal?

No value was added aside from the wholesale itself

What was the outcome?

A successful contract assignment

Lessons learned? Challenges?

I learned that staying out in front of people and following up are critical. You never know when someone is going to change their mind!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No