One of our wholesale assignments this month

[Sheldon Jabero]

Investment Info:

Single-family residence wholesale investment in Eastpointe.

Purchase price: $54,000
Cash invested: $30,000

This was a Property we wholesaled for an assignment of $23,000, the property needed approximately $25,000-$30,000 in Rehab cost ARV (after repair value) is $137,000. This is just one of many deals we find a month, we are looking to make relationships with buyers that can turn over properties quickly.

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

The property only needed a cosmetic rehab, no major renovations needed in this property. This was perfect for an investor to Flip.

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

It was an inbound call from a referral. The property needed renovations to put on the market and the owner did not have the time nor the money to fix it up his self.

How did you finance this deal?

We wholesaled the deal the buyer payed cash.

How did you add value to the deal?

We remained flexible and adaptable to our sellers urgent situation, and made it a quick and easy transaction.

What was the outcome?

We made an assignment fee of $23,000.

Lessons learned? Challenges?

The deed was vested in the mothers name, unfortunately the mother had passed so the seller had to provide a death certificate in order to transfer the deed into his name and clear title.

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

No.