This was a driving for dollars deal, contacted the owner in March, when I first started taking action, got on the phone with him and asked him if he was the owner of 123 main st, he said no, I said okay thank you so much, have a good day, and then I got off the phone and realized I didnt ask him if he has any houses for sale, so I TEXTED him, and he said YES actually ! he was a realtor who purchased three properties, fix and flipped two of them and ran out of money on this one. He put it on the market, and was able to sell it, I kept following up, following up. Then my partner got on the phone with him, extracted some pain, and realized he owed the private money lender money, and he didnt pay him off right away .. ( to our knowledge ) was listed at 525K fully gutted inside ( to the studs ), and we got him down to 450K, we told him we would find him a buyer, and MY buyer came in at 455K, everyone and their moms wanted it for the high three's. So my partner said, PARTNER we can't find you a buyer at 450K, you need to come down, and brought him down to 425K and sold it for 455K to my buyer, and lost 8,500k, due to an extension that needed to happen. Overall it took months of following up and consistency, for us to get this done. We used an Option contract, which is like wholesaling but the seller is aware that we are finding him a buyer at his price. Marked it up and was suppose to make 30k but made 21,500k On my first deal :D

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

I kind of just landed upon this one, Came across an owner of another house who was looking to sell.

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

I found this deal by driving for dollars and got lucky.

How did you finance this deal?

I had no money in.

How did you add value to the deal?

I brought this deal to one of my buyers, that I have built a relationship with.

What was the outcome?

I get to watch the project from start to finish, and thats pretty exciting.
it hasn't started yet.

Lessons learned? Challenges?

I need to follow up with my buyer through out the process to make sure they are on board with everything, closing date, moneys.
I learned to hire a transaction coordinator, cause what I did was too much and a headache, could've handed it over to someone to handle. Changed lawyers throughout the process cause the lawyer I picked was not it.