My first wholesale deal

[Paul Juell]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $64,000
Sale price: $104,000

SFR that had been abandoned for roughly 12 years.

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

I was looking into wholesaling for about a year or so and this was the first that actually went through.

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

This was owned by an asset company. Took a lot of research to get. After the original owner (a local investor) went bankrupt the Bank took over ownership. Then the Bank went bankrupt and all assets were sold off. I was able to get the property from the asset company.

How did you finance this deal?

No financing, this was a wholesale deal, I never closed on it.

Lessons learned? Challenges?

This was a deal with a lot of title issues. I definitely have been more diligent with getting through the entire title process during the inspection period.