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