Kannapolis Wholetail Deal

[William Allen]

Investment Info:

Single-family residence fix & flip investment in Kannapolis.

Purchase price: $84,600
Cash invested: $2,933
Sale price: $126,000

This property was essentially a wholetail off market deal.

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

This deal made sense as either a flip, long term rental, or BRRRR deal.

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

This deal was a referral from a family friend. The seller needed a quick sale to be able to move to another state and pay off medical bills.

How did you finance this deal?

Private lender.

How did you add value to the deal?

The main discount on this deal came from being able to close quickly and help the seller move on their terms.

What was the outcome?

After light repairs, I listed this property for sale on the MLS. It sold two days later well above list price.

Lessons learned? Challenges?

Thoroughly review your comps and be able to accurately gauge the home condition.