You don't have to have BIG money to make BIG returns.

[Jasmine Willois]

Investment Info:

Single-family residence note investment investment.

Purchase price: $7,000
Cash invested: $770
Sale price: $14,681

Contributors:
Harrison Silverstein

The home is in very bad condition so we had to negotiate at a very low price. Once that was taken care of we reached out to the borrower via email, voicemail, and a letter. They told a story of offering the original seller 10k for the asset, we countered at 15k. Check was rec'd in time for Christmas holidays.

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

It was an off-tape deal from our community.

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

It was a leftover asset from one of our bigger trades done 8 months earlier.

How did you finance this deal?

All Cash from business

How did you add value to the deal?

I reached out and engaged with the borrower/tenant. Made sure I purchased it at a price I can make money and everyone can be happy.

What was the outcome?

Borrower got the deed to their home. One less person worried about loosing their home during this time of inflation and post-pandemic.

Lessons learned? Challenges?

No such thing as a bad note, just a bad price.

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

Local agents are my preferred source. In this case we didn't need another resource than the attorney and escrow to close the deal.