Wholesale Flood Property

[Bryan Hoyem]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $185,000
Cash invested: $10
Sale price: $186,500

The owner of a SFR who had moved out of the country wanted to sell his house that has received extensive flooding during hurricane Harvey. The house had sat for a year without flood mitigation of any sort. I was able to negotiate a price that made sense even after repairs but was not interested to undertake the project myself. I assigned my contract to another investor looking to acquire the property as a rental for a small assignment fee.

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

The seller found me through my listing on Google.