After 11 months, this was our first Wholesale!

[Nick Taitano]

Investment Info:

Single-family residence wholesale investment in Tacoma.

Purchase price: $138,000
Cash invested: $100
Sale price: $150,000

My business partner was door knocking for a listing and one of the home owners really liked the rapport he built and said they would call him if anyone had any real estate they needed to sell. 8 months go by and that home owner called and said their sisters friend was a part of the probate process and they need an all cash offer. We then had some showings and dispositioned to a cash buyer to turn into a rental.

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

It was a probate and the sellers didn't want to own the property

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

Door knocking and got a referral.

How did you finance this deal?

Assignment fee so we used the end buyers cash.

How did you add value to the deal?

Closed within 45 days, all cash and made ourselves available for all communication needed to close the deal.

What was the outcome?

Cash buyer closed on it and is renovated it for his first rental.

Lessons learned? Challenges?

Get better at calculating repairs is my biggest goal right now. Also have more people on my cash buyers list.

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

No