Wholesaling to selling a turnkey property

[Michael Kennedy]

Investment Info:

Single-family residence wholesale investment in Mount Morris.

Purchase price: $17,200
Cash invested: $1,500
Sale price: $29,000

we found this house from a landlord that wanted out of the business. the home needed a simple paint job. after a new paint job we placed a quality resident in the home for $650.00 mth producing a 13-19% roi. After getting every thing situated we placed this property on our private investors list as a turnkey and sold it for 29,000 while still managing the property for the investor.

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

lots of equity

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

found this deal by driving around

How did you finance this deal?

finaced this deal through kennedyhousing our company

How did you add value to the deal?

we repainted the home and found a resident for the property

What was the outcome?

made a quick turn around for 10k equity

Lessons learned? Challenges?

i need more cash buyers and more efficient contractors

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

this was a in house deal