Wilmington, DE Wholesale Deal

[Shawn Kostoff]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $20,000
Cash invested: $100
Sale price: $24,000

I worked with a seller who owned a 2 bed/1 bath row home in the City of Wilmington. It was occupied with a good tenant in place and the property did not need any major repairs. I was able to wholesale this deal to an investor I already knew for a $4,000 assignment fee. I found this deal through direct mail and it took about 2 months of follow up before we were able to agree on a price and meet at the property.

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

Found it through direct mail marketing and made sure to follow up consistently with the seller.

What was the outcome?

I collected a small wholesale fee, the seller was able to sell the property at a fair price, and the buyer is getting another cash flowing property where he already owns property.