$27K Profit on SF Scottsdale Wholesale Deal

[Brett Benning]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $850,000
Cash invested: $8,000
Sale price: $860,000

Wholesale Assignment. Earned $17,000 Marketing Fee and $10,000 Assignment fee.

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

This property was a divorce situation. Sellers were very motivated and there was a 1,000 sf recent workshop addition that could inexpensively be converted to a livable 2 bed / 2 bath guest casita.

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

MLS

How did you finance this deal?

Cash earnest

How did you add value to the deal?

Smart email & sms marketing

What was the outcome?

Assigned the property for a $27K profit

Lessons learned? Challenges?

Sell wholesale properties during the inspection period

Require a non refundable, released to Seller earnest deposit & assignment fee from Buyer upon them signing Assignment

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

Yes. My fiancé Nicole Yoder with MY HOME GROUP is my agent

She does an excellent job helping me find great value properties, building relationships with investor clients & other agents, marketing my properties and staying on top of all the minutia closing on transactions