Wholesale House with Rottweiler, Pit Bull, Prozac, Snakes & More

[Robin Carriger]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $20,000
Cash invested: $115
Sale price: $25,000

Contributors:
Cindy Carriger

This house was owned by an elderly couple who had rented it to an "interesting" family that included one guy on anti-depressants, a Rottweiler, a pit bull, snakes, an iguana, and what looked like asbestos shingles on the exterior walls. I'm glad all we did was wholesale it to a rehabber. We made $4885.00 after it was all said & done.

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

Building cash via wholesaling for down payments on rental property purchases

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

Motivated seller called us from a postcard that was sent to a targeted mailing list

How did you finance this deal?

No financing was required for this one.

How did you add value to the deal?

We didn't add value to the house, but my wife, Cindy, was vital to development of rapport with the sellers.

What was the outcome?

We made a net wholesale fee of $4885.00.

Lessons learned? Challenges?

Potentially violent/deadly animals aren't enough to scare away people like us who were on a mission to build wealth in Real Estate.

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

Not on this one