Closed Another Wholesale Deal in Corpus Christi, TX

[JR Medrano]

Investment Info:

Single-family residence wholesale investment in Corpus Christi.

Purchase price: $32,000
Cash invested: $265
Sale price: $39,700

Seller called me and said I sent her a letter 3 years ago. Her brother just moved out week before she called me and is ready to sell the home.

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

I came across some YouTube videos with people talking about wholesaling houses in 2017 and decided to give it a try.

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

I sent out some yellow letters to my direct mail list. The seller contacted me years later. I talked to the seller on the phone for about 45 min. Then made her a cash offer. The offer was in the ball park of what she was willing to except so I set up an appointment to meet up with her at the property.

How did you finance this deal?

Got the property under contract and assigned the contract to a cash buyer.

How did you add value to the deal?

I got the seller and buyer to the closing table.

What was the outcome?

Seller sold the home with no out of pocket expense and the buyer got a really great deal on a property.

Lessons learned? Challenges?

Learned that I need to explain to the sellers more in dept about the pro-rated property taxes situation.

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

I have worked with real estate agents in other wholesale deals, but not in this particular deal.