Powder Springs Wholesale Deal!

[Stephan Roberts]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $90,000
Sale price: $100,000

This was one example of dozens of No Money Down wholesale deals I've done.

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

It fit my numbers.

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

It was a probate lead, and talked directly to the seller after pulling my comps to come up with an offer price.

How did you finance this deal?

I didn't. It was a No Money Down Wholesale deal.

How did you add value to the deal?

I was the one who located the deal, negotiated the terms with the seller, and got it under contract. So, my end buyer was pleased with the terms and I assigned the contract to them for a fee.

What was the outcome?

I made a $10K profit.

Lessons learned? Challenges?

Two lessons learned on this deal:
1) A 'NO' today, does not mean a 'NO' tomorrow. The seller originally turned down my offer, but called me back two months later and was ready to deal.
2) Trust your numbers. The reason I wasn't willing to go any higher with my offer was because I knew my numbers were accurate.

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

Just other investors (and of course the closing attorney).