Wholetail - purchased, cleanout, and list.

[Murray Smith]

Investment Info:

Single-family residence fix & flip investment in Oconomowoc.

Purchase price: $95,000
Cash invested: $1,950
Sale price: $173,000

Single family wholetail.

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

The low risk. I knew what the property could sell for on the market and without having to complete a rehab I still made a huge profit.

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

I noticed a vacant home in my city driving for dollars. I looked up the ownership on public records and noticed the owner lived out of State. I sent the owner a multiple touch direct mail campaign and they resonded after 8 or so touches. It was simple to negotiate as the owner was desperate to sell. They already had a verbal offer of $85,000. I simply offered $10,000 more and they accepted!

How did you finance this deal?

Personal money and private money.