WHOLESALE DEAL | CYPRESS, TEXAS | JUNE 2020 - AUGUST 2020

[Wale Lawal]

Investment Info:

Single-family residence wholesale investment in Cypress.

Purchase price: $145,000
Cash invested: $200
Sale price: $155,000

This is a whole sale deal that took 2-months with constant negotiation with seller.
Seller was not super motivated because the house is just 8-years old and need on $4,000 in repairs (Mainly carpet and few drywall replacement).
I had to walk-up my numbers to seller asking price of $145,000 and sold the property for $155,000. I paid my acquisition specialist 20% (in this case $2,000) and I gross $8,000

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

Great location
Great Assigned Schools
Long term tenant in place - She has been there for 8 years
Tenant takes good care of the house
Less Landlord headache
ARV and Comps supported my offer.
Majority of my private investors want the house.

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

Cold calling and marketing

How did you finance this deal?

No finance involve - This is a wholesale deal

How did you add value to the deal?

Added value to my investors by bringing them a decent deal with a tenant that has been in the house for 8 years and willing to stay for another 6-years at least.
Great schools and desirable location on Cypress 77433.
Only $4,000 in repair needed.

What was the outcome?

Wholesale the deal (Assignment of contract) and gross $8,000 within 3-weeks on having the house under contract.

Lessons learned? Challenges?

Know your numbers
Know your comparable
Bring a great deals to investors
Understand your market
Be patient with sellers
Have a reliable team to support you - You can not do it alone.

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

I am a Realtor myself. Contact me for great deals.
I work with Post Oak Title and they are great to work with.

Tilbury Woods Lane