Quick wholesale deal, saved from foreclosure!

[Chandler Lewis]

Investment Info:

Single-family residence wholesale investment in Jacksonville.

Purchase price: $60,000
Sale price: $85,000

Wholesale deal obtained through networking. Foreclosure was a few days away when we stepped in. We were able to work with the bank and stop the foreclosure to get the deal done!

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

It fit my buyers buy box perfectly

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

Through networking with fellow investors

How did you finance this deal?

Cash

How did you add value to the deal?

Brought the buyer to the table, did transaction coordination with all parties & title company to make sure the deal stayed on track.

What was the outcome?

We closed the deal in under 2 weeks.

Lessons learned? Challenges?

We almost lost the deal because they were always in the midst of divorce so we had to make sure everyone understood all outcomes, further push back the bank and help them understand the situation. Lessons learned mainly is understanding people make decisions under stress that could potentially make their life harder in whole so you have to be patient yet firm with people sometimes!