Closed Wholesale Deal

[Will King]

Investment Info:

Single-family residence wholesale investment in Desoto.

Purchase price: $75,750
Cash invested: $1,000
Sale price: $92,500

Distressed property we got under contract and sold in 2 days.

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

We know the area very well, seen this property before. We contacted the seller, made an offer that was accepted.

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

It's not far from where we live. We initial ask the owner if he was open to seller finance, he wasn't interested. We made 2 different offers and he accepted the cash offer.

How did you finance this deal?

We did a double close using transactional funds.

How did you add value to the deal?

The end buyer after putting $30k in repairs was able to sell the property at $177k.

What was the outcome?

It was a win win win deal.

Lessons learned? Challenges?

Ask more questions to the about other heirs, children etc...

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

No