A Successful Wholesale Deal

[Cameron Brown]

Investment Info:

Single-family residence wholesale investment in Columbus.

Purchase price: $36,000
Cash invested: $1
Sale price: $60,000

This property I just recently sold on Warren Ave in columbus OH. I have more contracts for sale if interested in checking these out hit me up.

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

Well I am a wholesaler so I used some of the marketing strategies I learned from other investors and reading to lock this deal in. I think this deal came from a cold call after driving for dollars. So I didn't invest too much money on this deal mainly just time.

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

I found this deal driving for Dollars in this neighborhood. While driving pass this property I seen that it had a for rent sign in the yard but the mutli unit property was vacant did not have one tenant in there. So I gave them a call and ask them a few questions about the property and if they may be interested in selling after they told me that the property has not been leased out for over 8 months. They were trying to sell and that's where the negotiation began on the price for the property.

How did you add value to the deal?

I added value into the property by negotiating the deal down to $36,000. I knew at that price that I could resell it "as is for over $20,000 more. Which I started to market the property at $60,000 and it sold for that price.

What was the outcome?

Property end up selling for $60,000 and I took an assignment fee of $24,000.

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

I worked with a guy name Myles Taylor from columbus OH on marketing the property. I gave him an marketing fee for helping me sell the property.