First Ever REI Deal In 2021

[Matthew Bernal]

Investment Info:

Small multi-family (2-4 units) wholesale investment in Naples.

Purchase price: $220,000
Cash invested: $5,000
Sale price: $250,000

I was thrilled to close my first wholesale deal on a beautiful property in Naples, FL. The house was located at 4417 W Alhambra Circle, a quiet and desirable neighborhood.

I negotiated a great price of $220,000 and put the property under contract. I then marketed the deal to my cash buyers list and found an investor interested in buying it as a fix and flip. I assigned the contract to him for $250,000, making a profit of $30,000 in the process. It was a win-win situation for everyone involved, and I learned a lot from this experience.

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

This was my very first deal. All I knew was that I needed to find a distressed property, offer a solution to the seller, get the property under contract, and find a buyer.

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

I found the deal by leveraging my contacts and digital resources.

How did you finance this deal?

This was a wholesale, so no financing necessary.