First Wholesale in High Point, NC

[Payton Ball]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $14,000
Sale price: $19,000

Got this under contract at $14,000, and it didn't fit the criteria that I wanted for my rental portfolio. I'm also newer so I am looking to build capital to pour into future rentals. The situation was that the owner had let a tenant plant there for years without renewing a lease, or checking in on the property. She didn't realize how bad a shape it was once we went over and looked at it together.

This lead came about from text message campaign. Profit was an even $5000.

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

Build capital for rentals

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

I was honest with my intentions but that what I could offer her was a hassle free sell, and she was thrilled with that.

How did you finance this deal?

EMD of $250 that was returned at closing. Cost to find the deal was marketing and CRM software.

How did you add value to the deal?

Made it easy on the seller - she worked long hours, and didn't have time to go through the long process of selling.

What was the outcome?

Profit of $5000

Lessons learned? Challenges?

It was my first and there were things I was afraid of, but this opened my eyes that a lot of the things I was afraid of weren't that big of a deal!

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

N/A