I'll be happy to take it off your hands.

[Collin Corrington]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $100,317
Sale price: $105,317

My friend sent out some mailers and got a response from this house. He asked me to go check it out. I liked it and put it under contract with an option period of 10 days. My friend got to looking at it and decided he didn't want to do the deal. Basically, it's in a gentrifying neighborhood that would have taken some serious upgrades to make it comparable with the rest of the homes.
He told me to cancel the deal, and I did.

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

I then drafted a new contract for the same amount but under my name. I was telling a friend about it and she knew someone that loved to flip in that area. I assigned it to them for $5,000 and split the proceeds with ther.

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

My friend did.

How did you finance this deal?

Didn't have to.

How did you add value to the deal?

Networking

What was the outcome?

$2,500 off of deal thrown away.

Lessons learned? Challenges?

There is a butt for every seat.