First Wholesale Deal

[Sheldon James]

Investment Info:

Single-family residence wholesale investment in Hattiesburg.

Purchase price: $60,000
Sale price: $66,000

This was my first wholesale deal, second total real estate deal

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

I wanted a way to make money in real estate without needing to invest a lot of money upfront.

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

I found it driving for dollars and negotiated directly with the home owner

How did you finance this deal?

no need to finance it, wholesale deal

How did you add value to the deal?

I added value by closing on the cash deal for the home owner and also bringing a good investment to a seasoned rental investor

What was the outcome?

We closed on the deal and everything went well. The home owner got her money and sold the house without having to deal with the extensive repairs. The end buyer got a great deal that worked as both a rental or a flip if he wanted. I made a profit of almost $5,000.

Lessons learned? Challenges?

I learned a lot of patience in dealing with the home owners requests and needs.