Seller Financed Flip!

[Bailey Kramer]

Investment Info:

Single-family residence fix & flip investment in Antioch.

Purchase price: $68,000
Cash invested: $500
Sale price: $98,000

Wow...

This was a crazy deal for a few reasons!

We bought this property with $0 down

I was the Realtor on the deal (My 1st time)

The first big real estate check I received ($11,000)

I bought this property back in April using a strategy called seller financing. We negotiated a purchase price of $68,000, 2 year term, 3% interest rate, & $0 down. Our initial plan was to fix the property up and sell it for $180,000. We realized that it would take a few months because EVERYTHING needed work!

So we thought, hmmm, what could we sell this property for AS-IS. And we calculated $130,000. So I listed it on the market, and a few days later, we had multiple offers and accepted one at $118,000 with a 14 day close! A $50,000 profit in 20 days! Not too bad, right?

Well, this didn't exactly go according to plan and the buyers ended up backing out.

So we put it back on the market and had a contract for $110,000 with a 14-day close. Guess what happened? Ok, fine i'll tell you: THEY BACKED OUT TOO!! Let's just say I was a little frustrated...

Finally, on January 1st, we received another offer for $98,000 and we gladly accepted the offer! After closing costs, we walked away with a $22,000 profit, leaving me with $11,000 (I split it with my partner)

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

We got seller financing and it was an insane deal!!

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

Cold Calling

How did you finance this deal?

Seller financing

How did you add value to the deal?

All we did was clean the house out and we listed it on the market!

What was the outcome?

We sold it for $98,000