Garnet Valley Wholesale Deal

[Shawn Kostoff]

Investment Info:

Single-family residence wholesale investment in Garnet Valley.

Purchase price: $125,000
Cash invested: $1,000
Sale price: $130,000

This seller was looking to sell a rental property that he owned for a very long time. The house was beat up by the last tenant and he had no interest in doing any work to it. We were able to get him the price he was looking for and close on his timeline.

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

Through our direct mail marketing.

How did you finance this deal?

We wholesaled this deal to another investor.

How did you add value to the deal?

We responded to the seller quickly and were able to offer him what he was looking for.

What was the outcome?

Everyone got what they were looking for in this deal.

Lessons learned? Challenges?

This was one of the quickest deals, from start to finish, that we've done. The seller called and said he wanted $125,000 and that if we didn't want it he had 10 other pieces of mail he could call. I met him at the property the next day and put the property under contract on the spot. After advertising it to some investors we didn't have much trouble selling it.
Especially in a hot market you need to be quick to respond to sellers before they move on to the next investor.