Wholesale Deal back in 2020

[Josh Phillipe Cote]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $246,000

SFR in Post Falls Idaho, that I wholesaled to a friend who is a Buy & Hold Investor in the area.

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

I like the wholesale strategy for quick returns, and being able to get out of a property without too much effort.

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

It was a FSBO, that I called from Zillow. Turns out due to personal issues he was not going to be able to take on the project, so I negotiated a purchase from him, and was able to find a buy and hold investor who wanted it.

How did you finance this deal?

I did not.

How did you add value to the deal?

I added value by bringing a buyer who wanted a good deal!

What was the outcome?

The seller got their cash, I got a nice assignment fee, and the buyer got a new rental property!

Lessons learned? Challenges?

This was fortunately one of the easiest deals I've done.

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

I did not, however, I am a real estate professional. My team, North Idaho REI at Keller Williams in Couer d'Alene, sells over 200 houses a year. Every team member is an investor, and we work primarily with other investors, as well as typical on-market buyers, and sellers. Reach out to me if you need help navigating the insane North Idaho Real Estate Market! 208-818-2804.