I Just Bought my first house on Bigger Pockets from a Wholesaler! - Seattle

[Tarl Yarber]

Hey everyone! 

I just wanted to share a recent success story (will know if really a success in a few months after re-sale) all due to Bigger Pockets and the community here. 

About a month ago due to one of my previous posts, I received a colleague request from @Rory Boone. Rory is a local wholesaler and real estate investor here in Seattle and he wanted to connect.  No big deal, that's what we do, accepted the request and then forgot all about it.  One month later I get an email for a property (see pic below) in Seattle from some Rory guy.  I couldn't remember how we met, until I realized it was from BP!

Rory had tied up the property off market, and remembered me saying that I bought in Seattle/Tacoma, so he figured "why not! I'll send it to this guy and see if he is legit." We then met at the property, and the next morning we signed the Assignment Contract!

Don't stop networking, ever, in this business.  I can personally say that the majority of my success from this business is directly related to my network and meeting great, professional people like Rory Boone. 

And now the Deal:

Purchase for me: $385k

Rehab: $60k

After Repair Value: $565k-$575k (hard to believe, but its Seattle)

Profit Projected: $71,350 - $80,550

ROI: 15.9%-18%

This is a hot area with NOTHING on market, so im sure it will move fast and will possibly sell for more.