Rental Property Investor · Los Angeles · Member since 2019 · 13 posts · 3 votes
Investment Info:
Large multi-family (5+ units) wholesale investment in Los Angeles.
Purchase price: $1,195,000 Sale price: $1,400,000
Duplex off-market property that is zoned to build up to 13 units.
What made you interested in investing in this type of deal?
I have investors that are builders, developers, and flippers. And, they want me to find them deals because they know I have access and connections with Realtors.
How did you find this deal and how did you negotiate it?
One of my Realtors contacted me telling me was getting an off-market property. The Realtor and the Architect provided the zoning where a builder or developer could build up to 13 units.
We provided the investor with a safe clause so they could check and review the zoning with the city. If the zoning was incorrect they could cancel the deal.
How did you finance this deal?
I wholesaled the contract to my assignee Investor.
How did you add value to the deal?
Future rental income, property and land value once developed.