Uploading my first deal

[Tiago Alencar]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $132,592
Sale price: $162,917

Pre-foreclosure. Contract signed in December 2018 and closed and resold in April 2019.

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

The ARV at the time was 250k and the property was underwater over 170k.

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

Making cold calls to people in pre-foreclosure. Was able to negotiate with the lean holders to settle for a lot less than what the homeowners owed.

How did you finance this deal?

Got a referral from another wholesaler for a local hard money lender.

How did you add value to the deal?

I helped the homeowners not have to foreclose on the house. And got it at enough of a discount that another investor could fix it up and still make a good profit.

What was the outcome?

I made 25k in profit from this deal.

Lessons learned? Challenges?

If you find the deal, you will find the money. Hard money was a lot easier than I thought it was going to be.

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

Worked with Matt Atkinson with Intercap Lending.