First Wholesale deal
Investment Info:
Single-family residence wholesale investment.
Purchase price: $220,000
Cash invested: $100
Sale price: $225,000
Wholesale: 2 build property to a Developer. (should have documented, dates may not be exact)
What made you interested in investing in this type of deal?
Starting out as a wholesaler appeared to be the best place to start in Real Estate for me. Understanding what a good deal looks like.
How did you find this deal and how did you negotiate it?
Door Knocking for 3 months. The seller wanted to purchase another home with the proceeds from the sale of this one. The pain point was that the seller grew up in the home. Parents and sibling died in the home. Moving on was tough, but helping him make peace with that was main part of the negotiation process no one else touched on.
What was the outcome?
Builder tore down the single family and built two single families on the lot.
Lessons learned? Challenges?
Negotiations are for discovery and are not always about price.
