Cobble Creek Curve Wholesale Deal

[Shawn Kostoff]

Investment Info:

Single-family residence wholesale investment in Newark.

Purchase price: $80,000
Sale price: $85,000

We were able to negotiate a price with the original owner of a townhouse in Newark, DE for $80,000 and took a $5,000 assignment fee from a buyer we had a previous relationship with.

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

We found this deal through direct mail (a postcard). It actually wasn't even the property we were originally targeting, he had a couple properties he was selling and this townhouse made the most sense from an investment standpoint. When we spoke originally he was looking to get at least $90,000. After a few conversations and meeting in person we were able to come to an agreement at $80,000.

How did you finance this deal?

We wholesaled this to a buyer we had known previously who was using a HELOC to fund the purchase a renovations before refinancing with a traditional 30 year mortgage.

How did you add value to the deal?

On top of finding and negotiating the deal we helped the buyer through the process a bit as this was his first investment property.

What was the outcome?

All parties were happy with the transaction :)