Investment Info:
Single-family residence wholesale investment.
Purchase price: $800,000
Cash invested: $3,500
Sale price: $900,000
This was a property that we were able to come across as an internet lead. My partner and I connected with the owner and talked about their situation, ultimately what they wanted and were able to present them with options that allowed for them to transition comfortably to the Midwest. The entire process was another 60 days after closing escrow and I was actually able to coordinate the move for them so they could start their journey in the morning vs waiting.
The Numbers: We ended up partnering with another investor initially then getting bought out.
What made you interested in investing in this type of deal?
We decided to move forward with this project because there was little downside risk.
How did you find this deal and how did you negotiate it?
We found this deal through internet marketing and ended up having a candid conversation with the owners about what their desired outcomes were and how we might be able to help them with their plans.
How did you finance this deal?
No Financing as it was a paper flip.
How did you add value to the deal?
My partner and I ended up adding value since we were able to negotiate a good price for our partners who ended up buying us out of the deal.
What was the outcome?
The outcome was a happy seller, happy teammate and a happy investor 😃
Lessons learned? Challenges?
N/A
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
WFG Title (Melissa Oiwa's team) based in Danville is one of the most responsive & investor friendly title companies that you'll find!
