Wilmington, DE Wholesale Deal

[Shawn Kostoff]

Investment Info:

Small multi-family (2-4 units) wholesale investment.

Purchase price: $50,000
Cash invested: $1,000
Sale price: $60,000

After about 18 months of conversations and negotiations I was able to come to an agreement with the seller to buy his property. He was the original owner of a duplex (up/down), each unit being 2 bedrooms and 1 bathroom. We agreed to a $50,000 sale price, as is, and I knew I could sell it to another investor for $60,000 based on recent sales in the neighborhood. I had a ratified assignment contract about 2 hours after I signed the purchase agreement with the seller and we closed in 30 days.

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

Normally I would have kept this for myself as a BRRRR deal, but it was not in a neighborhood I am looking to hold rentals in.

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

Direct Mail Postcard

What was the outcome?

$10,000 assignment fee.

Lessons learned? Challenges?

Follow-up, follow-up, follow-up! Be persistent.