Vacant lot - easy wholesale

[Andy Bauman]

Investment Info:

Other wholesale investment.

Purchase price: $1,764
Cash invested: $1
Sale price: $2,550

This was a vacant lot that I picked up via a mailing and sold quickly. Easy wholesale via contract assignment, but the process took quite a bit of time because there were some title issues (liens) that had to be cleared by the title company. Proceeds will pay for my next mailing!

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

I currently specialize in flipping and creating cash flow with seller financing of vacant land as well and value add mobile home park investing. This fell in my strategy.

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

I found this deal with direct marketing and negotiated with the seller.

How did you finance this deal?

Cash

How did you add value to the deal?

I wholesaled the property to an end buyer for a good deal.

What was the outcome?

I made an easy, small, assignment fee.

Lessons learned? Challenges?

For this one I was glad I used a title company as it took a lot of follow-up to get liens on the property released from the prior vendor, but the title company was great!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Only the title company. I found the buyer and seller on my own.