Wholesale experience - Waiting to finalized

[Account Closed]

Investment Info:

Single-family residence wholesale investment in Greenville.

Purchase price: $5,500

Currently under contract
Will be looking to assign this property
Single family in Greenville NC
3bed 1bath 1,700 sqft
Built in 1920
Estimated ARV $60k
Estimated Repairs- $25k
Pending Contract

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

Helping the owner get rid of this property.
Location and possible benefits of either assigning this contract, or keep it as an investment property.

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

Found this potential deal using Lead Pro on repro website. Sent out a direct mail to owner. Owner then contacted me regarding property. We then negotiate over the phone, and agreed to a price.

How did you add value to the deal?

I offer to assist owner on paying code compliance fees, by adding half of what he owes to the purchase agreement price.

What was the outcome?

Pending contract- Waiting to receives it back.

Lessons learned? Challenges?

Lesson- Be patient. Listen to their problems, Be willing to help.
Challenges- Owner having to go out of town, resulting in contract pending. Being out of state.

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

No.