$42,750 Wholesale Completed

[Tim G.]

Thought I'd share this one as it's a little juicy.

13354 La Venta Poway, CA 92064

ARV - $480,000-$500,000

Repairs - $40,000-$50,000

Sold for $370,000

Buyer was stoked on the deal, very desirable house due to its location (great schools) being at the end of a court and a really cool layout. Property needed a lot of work and had a small crack in the slab.

Split this deal 50/50 with a good friend who brought the lead in, I helped secure it and then sold it.

And this is why I keep telling everyone the 70% rule should be ignored in Southern California.

Happy Wholesaling!

[Tim G.]

Was a rental, tenant got evicted. Property needed a lot of work seller was ready to get out.

Lead came from a mailer. Chris who brought in the lead is a new wholesaler this was his first deal.

He was smart and just took massive action, didn't over think and just went for it trial and error. He also did what I consider very smart and realized partnering with someone early in the game to ensure he could secure the deal.

His arv was 420k on this deal, so was a few other folks. Knowing the market better helped us secure it at a higher price and still have room to make money.

This was an assigned contract. Closed in about five days.