Wholesale purchase for 2 unit in Allentown PA

[Jaime Cartagena]

Investment Info:

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

Purchase price: $215,000
Sale price: $234,000

2 unit property wholesale in Allentown PA

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

I wanted to raise some capital to purchase another property closer to my area.

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

I contacted my past buyer to see how he was doing and get referrals and he explained his situation and needed to sell. So I negotiated by finding out what dollar amount he needed from the me to sell? We came to an agreement and I had him sign an assignment for me to sell his property. I contacted one of my preapproved buyers looking to purchase in the area and we went under contract.

How did you finance this deal?

I sold the assignment to the buyer and he is getting the financing.

How did you add value to the deal?

My experience in the mortgage industry came in handy through out knowing what questions to ask.

What was the outcome?

We are closing the deal next week 5/3/2024 I will make 19k.

Lessons learned? Challenges?

Learn more about the wholesale process. Dealing with divorce couple is very difficult.

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

I work with many agents as a Mortgage Advisor. I can recommend on request.