Sebring FL Wholesale Deal

[Mike Barone]

Investment Info:

Single-family residence wholesale investment in Sebring.

Purchase price: $35,000
Cash invested: $1,500
Sale price: $55,000

I found this property with direct to seller marketing. It took over 1 year of follow up to close the transaction. The seller lived out of state and decided he was not going to come back to Florida and wanted to quick and easy sale. The property needed a lot of work and I decided assigning it to another local investor was my best option at the time. I was really close to taking on the project myself. What would you have done?

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

The property was purchased at price that would allow for multiple exit strategies.
BRRRR
Fix and Flip
Seller Finance
Wholesale

[Chad Tessmann]

I think I actually analyzed that property a while ago... when I analyzed that property, I had thought it would need much more cash invested to BRRRR it or Flip it; although not a crazy amount. How did you manage the sale for $55k with less than $2k invested?