Can you wholesale a property on the MLS?

[Angie Castro]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $230,000
Sale price: $330,000

The best thing about this deal is that 1. We found the property on the MLS and we were able to wholesale it by negotiating the sellers into walking back $70k from their asking price.

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

The property needed work. When a house can't qualify for financing the competition shrinks. That's where you can come in and negotiate the price down until you create a deal.

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

I found this deal on the MLS and I sent it to my wholesale partners. My job as the buyer's agent is to negotiate.

How did you finance this deal?

Private money.

How did you add value to the deal?

I added value by implementing a unique approach to bring sellers down on their asking and by finding the perfect property that I knew would go down on price.

What was the outcome?

A 5 figure spread.

Lessons learned? Challenges?

You can ALWAYS negotiate.