If you don't want it, I'll take it!

[Collin Corrington]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $67,500
Sale price: $69,000

Simple wholesale deal.

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

I was hunting down properties on the foreclosure list for my partners. I thought this was going to be a killer owner finance deal and both of them shot it down.
So instead of just passing it up, I locked it up under contract and wholesaled it.
I made a quick $2,500 when they didn't want it.

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

If I remember correctly he called me off one of my mailers.

How did you finance this deal?

No financing needed. =)

How did you add value to the deal?

Finding a flipper that wanted it.

What was the outcome?

$2,500

Lessons learned? Challenges?

It was a tight deal for a flip and I knew that but there was money to be made. I had to make sure that my buyers saw the value and how the numbers would shake out.