The Alchemist's luck

[Peter McKesson]

Investment Info:

Single-family residence wholesale investment in Rocklin.

Purchase price: $340,000
Sale price: $342,500

Have you read the book the Alchemist - Paulo Coelho? The king described two beliefs to the young shepherd boy. One was that when you decide to do something the universe will come together and assist you. Secondly, there is a true magic called "beginner's luck". You only get this magic to happen once and this is all what seemed to have happened to me on this deal. I decided one Sunday morning to fulfill a long time desire to be a real estate investor. I simply read a few instructions about scanning Craigslist and calling sellers. Within a few days I found a local wholesaler. I locked in a deal amount for a property. I then turned my attention to finding a buyer from Craigslist and located Shane. I went back and forth with seller and buyer and then made the marriage! No paperwork , no money, not much time. DONE! Earned $2,500 in about 5 hours of work. Beginner's luck for certain!

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

It was local and knew no other deal type.

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

I called this ad in Craigslist and spoke to the wholesaler. What is even more lucky about this deal is both the seller and buyer had been offered this property earlier, but did not like the person so decided not to pursue the deal at all.

How did you finance this deal?

I explained that I was so new that had no paper work or money. I did not even know what earnest money was.

How did you add value to the deal?

My contribution was to be the match maker. I was only about 15 days new to this business.

What was the outcome?

about 45 days later I collected my check on solely a promise to get paid. Thank you Shane!

Lessons learned? Challenges?

Don't complicate this business. And this business is truly a people business.

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

I met and befriend my title person here locally.