Wholesale Investment Property Flip up to 13 UNITS

[Ricardo J Corbera]

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.

What was the outcome?

Currently in escrow.