Wholesale deal that took me 9 months

[John Britt]

Investment Info:

Single-family residence wholesale investment in Chattanooga.

Purchase price: $25,000
Cash invested: $1,000
Sale price: $42,000

Single family house that is going through a full rehab right now, in an up and coming neighborhood.

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

The house had good curb appeal, also the house was over 2000 square feet not even a block away from one of the hottest neighborhoods in city.

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

I found this deal when I was walking around in the neighborhood and noticed the vacant house. I just made an offer and told them that the plan was not to tear it down.

How did you finance this deal?

1 day funding

How did you add value to the deal?

I worked with all of the relatives and one of their attorney's in order to close the deal. I place the property under contract in January 2019.

What was the outcome?

We were able to close after we took care of some title requirements made by the title company.

Lessons learned? Challenges?

I have learn to always ask if the property has been probated.

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

No