Re-Development As A Wholesaler.

[Account Closed]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $35,000
Cash invested: $59,000

This deal was an amazing wholesale opportunity. I was able to connect with a seller who owned 35 properties and wanted to get out of them as fast as possible, so I suggested that she give me a year to sell all of her homes. I put them all under contract for that year with the only money I had. Shortly after that, I hit the phones and email list hard, trying to get everyone interested in properties 2+ hours away from where they felt "comfortable" investing. Within the first two months, I had sold

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

I saw an opportunity. These homes were so gross and disgusting, yet people were paying high rental prices; I couldn't figure it out. One day I went and knocked on a few doors and talked with the people who lived in these homes, they told me that the reason they choose to live here out of all places was that there was nowhere else to go. That lit a fire under my *** so quickly because it helped me to realize, people will pay for better, if better is offered.

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

Finding the deal was the easy part. I was able to identify the seller because she had all these for rent signs on the old homes. I thought it would be a great idea to ask her how much she would sell them for, and she replied, "I would love to sell them all and get out of this place". I spent four months negotiating the price with her and finally came to a solid deal.

How did you finance this deal?

A lot of owner financing of cheap homes, so it made it a small investment for those who wanted to get their feet wet.

How did you add value to the deal?

I eventually started my own construction company and that made life sooooooo much easier for myself and my investors.

What was the outcome?

I sold all 35 homes, and it allowed me to create Reunion Investments. Now we have over 100 investors and have built over 300 units of property across the country.