Windsor CA Condo Wholesale

[Wyatt Postal]

Investment Info:

Condo wholesale investment.

Purchase price: $270,000
Sale price: $285,000

Contributors:
Brian Kraut

2 bed 2 bath condo. Got this deal under contract direct to seller for 270k and assigned the contract to my buyers at 285k for a 15k assignment fee. Full interior cosmetic remodel is being done currently with a budget around 35k. ARV is 400k +

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

Solving problems!

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

This was a referral from a local investor who couldn't take down the deal at the moment so she recommended me to the seller for a referral fee and I handled the rest. I was honest with the sellers and explained that if they renovated the property they could list it and get a lot more money, but a quick sale was needed for reasons personal to the sellers that I won't share here publicly so we negotiated a lower cash price because we could offer a very quick close and no contingencies.

How did you finance this deal?

My buyers financed this with hard money. There was no earnest money so I was $0 out of pocket.

How did you add value to the deal?

Solved the problem for the sellers by ensuring we closed within their needed timeline. Thanks to escrow we closed at the very last 10 minutes of the last day we had to close. It was a very close call and the sellers were very happy.

What was the outcome?

TBD. Being renovated currently and will probably be listed at 425k

Lessons learned? Challenges?

The challenge with this was closing on time with the hard money and complicated escrow situation that we had.

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

Myself