My First Wholesale!!!!!!!!!!!

[Steven Adorno]

Investment Info:

Single-family residence wholesale investment in Davidson.

Purchase price: $240,000
Sale price: $250,000

Vacant land in a million dollar plus neighborhood.

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

I have some capital but not enough to buy and flip my own deals. I figured wholesaling would be my avenue to get into the REI game.

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

I pulled some absentee owner info from list source, sent mailers for 4 months, and landed the deal. I had no idea what I was doing but I locked it up, went on FB REI groups found a buyer and couldn't believe I was doing it!

How did you finance this deal?

It was a wholesale

How did you add value to the deal?

doing due diligence for buyer and seller. This was vacant land in a million dollar neighborhood so I did as much research as possible on ordinances and new construction builds.

What was the outcome?

took 1.5 months to close back and forth negotiations, soil testing, surveys, etc. it sold

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

I found a great group of RE professional on FB in my market. they were invaluable to getting this closed and once I had a deal the help came a lot easier