A simple wholesale deal

[Tai DeSa]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $50,000
Cash invested: $1
Sale price: $58,500

I put an estate property under contract for $50,000. I collected a contract release fee of $8,500 so the cash investors (two flippers) could buy for $50,000. The flippers fixed it and sold it for $103,000.

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

The listing agent approached me after having trouble selling her listing for a higher price. It was an estate that simply wanted to sell the house quickly.

How did you finance this deal?

I did a wholesale transaction with a couple of cash investors I had done deals with in the past.

What was the outcome?

I collected an $8,500 wholesale fee. The flippers bought for $50,000, improved the property, and sold it for $103,000.