All Forum Posts by: Kaleigh Sanchez

Thanks @Ben Rhodin! I will connect with you ! 

I am trying to wholesale, but I dont know if she will take my offer, and I am trying to make it a win- win for her, and my contractor so he can do the rehab 

The house is worth 700k POTENTIALLY ARV - not in the condition as-is

Hey Guys! Im well on my way to my first deal in this adventure! I need help strategizing creative financing options to secure this property.

 Here are the details : 
Home for sale by owner, owners are ready to retire and travel ! 

The home is in good condition, as far as not needing any major repairs : no foundation, roofing, gutter, electrical or sewer issues that we know.  It does need some work to sell in the market today. A perfect fix and flip ! 

The sellers pretty much want the most money for the home in as-is condition and thinks it's in perfect ready condition. 

Ive gathered enough comps to educate the seller on the market value of the home. She wants 700k and that would be close to reasonable if the home were updated. 

My strategy is this: I  would prefer to do a wholesale because I dont have money to put down on the property. I can work with a contractor to rehab the home and split the profit 50/50, but I'm not sure I would get financing. I would get through a hard money lender in Denver, rehab the home in 3 months or less, sell and take the profit. Only thing is I dont know if the seller would be happy with my wholesale price. 

Is is possible to get it financed with hard money, do a deed of trust, do rehab with my contractor as a JV deal, sell the home and take the profits ? I know I'm missing something, hope you guys can help

Lets connect

I am new to investing and I am looking to do wholesale because I have essentially $0 to start my own. I want to get into househacking and the BRRRR method, but I need some capital for the 3.5% - and if anyone knows the prices of homes in Denver are not cheap. I'm even considering the move anywhere that I can get into my first house hack.

On to Wholesaling- I am understanding the process is pretty simple

1. find a property that needs help

2. get it under contract with the right assignable literature 

3. send the signed contract to title and escrow company (what do they do? do I pay for this service?)
4. Find buyer

5. have them put ernest money down, show up at closing with title and escrow office 

6. my check is dispersed from title and escrow office 

Ok, now what am I missing? Do I need insurance, do the money wires or check get to me directly for the assignment fee ? 
Is it really that simple? 

Also if anyone in Denver area is looking to connect, please reach out

It was an interfamily transfer, business partner knew the new owner personally.  I might add, the home was a hoarder home, very close if not in the beginning stages of foreclosure, smelled of marijuana. Again, I did not acquire this property and I was a bit in over my head in the whole process. I am on a different adventure now with a new team  :) 

Thanks for this

Investment Info:

Single-family residence wholesale investment in Upper Falls.

Purchase price: $376,000
Sale price: $425,000

Wholesale where I received a commission for finding the end buyer. 15% which I had to split with another team member. Total profit for myself $5,100

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

The money was quick

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

I was working with a team of people that found the deal. I only found the buyer

How did you finance this deal?

It was financed through hard money