this was my very first wholesale deal $15,000 assignment fee

[Ruben Joseph]

Investment Info:

Single-family residence wholesale investment in Conroe.

Purchase price: $45,000
Cash invested: $10
Sale price: $60,000

this was a flooded home and the owner was currently living in Florida

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

it was a vacant flooded home

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

driving for dollars

How did you finance this deal?

i assigned my contract to a end buyer

How did you add value to the deal?

i contracted the property at a very discounted price

What was the outcome?

seller was behind on his mortgage payment haven't made payments for two years on the loan

Lessons learned? Challenges?

i had to get proof of flood insurance to provide to the lender that it was going to be applied towards the loan & i also had the contract at a non investor friendly tittle company so i had to take the contract to another tittle company which made the process much longer

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

i pretty much went into this deal blind folded and had some bumps and bruise's along the way but i found my way and got the deal closed