Wholesaling newbie - It’s never too late to start!

[William Mallinson]

Investment Info:

Single-family residence wholesale investment in Montgomery.

Purchase price: $15,500

3/1 Ranch; got under contract to flip or assign contract.

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

I'm a real estate broker and starting considering/studying REI over the last year and been looking for wholesale opportunities that didn't require a lot of upfront capital and time. An existing client of mine had the this property - I inquired and it all came together. Hope to build capital via wholesaling and do more buy/holds later.

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

An existing client of mine had the this property - I inquired and it all came together.

How did you finance this deal?

Seller finance/wholesale

How did you add value to the deal?

They couldn’t sell it and didn’t want to do work necessary to sell - I was able to resolve their dilemma.

What was the outcome?

House is under contract and I seeking to assign contract now

Lessons learned? Challenges?

You have to dig or create opportunities; as I’ve been hearing from others “today you don’t just find deals, you have to create them!”

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

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