Updated about 2 years ago on .
Win-win wholesale Deal!
Investment Info:
Single-family residence wholesale investment.
Purchase price: $170,000
I found an off-market property that I entered into contract with as the buyer. I then found another buyer who was looking to flip the property and assigned the contract to the new buyer for an assignment fee of $12,000. Zero money invested!!
The sellers were an older couple who were currently 3 months behind on their mortgage and had freeloading family staying there. The place was too much for them and they desperately needed out of the situation so they could downsize.
What was the outcome?
The sellers walked away with about $40k after paying off their mortgage, I made $12k for wholesaling the deal and the end investor ended up making about $105k. I'd call that a win-win-win!!
Lessons learned? Challenges?
The deal was most challenging, being a licensed agent in the state of GA and protecting myself as far as contracts go.