Investor's Special: Wholesale Deal

[Keith Washington]

Investment Info:

Single-family residence wholesale investment in San Diego.

Purchase price: $417,000
Cash invested: $1,000
Sale price: $575,000

3/2, 1400 square feet in San Diego California. Technically it was a 2/2, but my cash buyer converted the den to a third bedroom. The repairs were cosmetic. And his wife is a real estate agent. After my wholesale fee of 20K, and roughly 17K in repairs, they walked away with just over 100K. Life is good. I'll continue to wholesale until I can start buying multi-families.

[Keith Washington]

Hi @vannachham

Here are my top 3 take aways from that experience...

1. Patience is truly a virtue. The escrow process can be brutal sometimes. 

[...or maybe I was just anxious to get emails and signatures. Lol]

2. Leave your emotions at the door. I fell in love with the project which isnt a bad thing, but it took my focus off of other deals.

Sooner or later, you'll just start calling them doors. 

3. Reinvest into your business. Outsource. Teach others to run your acquisition and disposition roles while you just oversee the operation. 

If you have more questions, or you'd like to connect on future projects, feel free to shoot me a message. 

Thanks