Single Family Home in NW Florida 90K+ Profit

[Tiffany Jones]

Investment Info:

Single-family residence wholesale investment in Milton.

Purchase price: $75,000
Cash invested: $65,000
Sale price: $236,000

2/2 Single Family Home in Milton, Florida sitting on just under 1.5 acres. Land has potential to be split into two lots as back of property backs up to historical village of Bagdad. Under contract at 75K, Assignment fee: 20K, Repairs: 35K. All in at 130-135K and ARV is 236K.

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

Highly motivated investor in the area

How did you finance this deal?

Accepted assignment fee, investor is purchasing with cash.

How did you add value to the deal?

The owner was elderly, so empathizing with the situation generally promotes a symbiotic relationship with the sellers.

What was the outcome?

Seller accepted 75K with 68K mortgage remaining, contract assigned within 72 hours and will yield 90K+ in profit to the investor.

Lessons learned? Challenges?

Follow up, follow up, follow up.

Seller was often silent for periods of time for various reasons, staying consistent definitely sealed this deal.