“Wholetail” Deal MLS

[Lawrence Potts]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $158,000
Sale price: $198,000

Bought a SFR off-market in June of 2022. Had multiple options (BRRRR, Flip, etc.), but decided to "wholetail" it on the MLS. Partnered with a mentor who financed it, closed it in my name, we removed the junk, landscaped the property, had a professional arborist remove a tree hanging over the property, did some minor renovation work, and listed the property on the MLS. Sold in August of 2022.

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

Internally through our network we have been building.

How did you finance this deal?

Partner's IRA

How did you add value to the deal?

We spent the time, money, and energy in marketing, networking, and negotiating to find a motivated seller and present the property to the public. We hauled the junk away, cleared the property, had a professional arborist come, and did some minor renovations so people could safely walkthrough it. We also had shingles and or building materials to go with the sale of the property.

What was the outcome?

We sold it to a local contractor to renovate for his daughter and son through their agent.