All Forum Posts by: Lance A White

We are. Let me know what you are looking for

Don't know why image is sideways

Investment Info:

Single-family residence wholesale investment.

Purchase price: $100,000
Cash invested: $1,000
Sale price: $108,000

Another fast wholesale deal. End buyer wanted it but couldn't close on sellers time line, so we stepped in with hard money and bridged the deal

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

Fast turn on the money

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

Wholesaler brought it to us

How did you finance this deal?

100% Hard Money

How did you add value to the deal?

Bridged the buyers and sellers closing needs

What was the outcome?

Made a little bit, probably not worth the effort for about $2200

Lessons learned? Challenges?

Put in contract that seller must remove all garbage or we get a clean out credit at closing.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Just one of our hard money lenders.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $10,600
Cash invested: $1
Sale price: $15,600

Just a quick wholesale deal we sold to another flipper who was working on the house next door. Put it under contract with seller using money from a PML so we had zero dollars in the deal. Put down $5000 of earnest money because there were multiple offers. Paid PML $250 on their money that we used for about a week. After closing made about $4200.

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

Seller was a friend whose father passed away and left him an unfinished house with some debt on it

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

An estate attorney I work with mentioned that she was helping a client and got his permission to give me his contact info. "Hey, I know that guy." I said.

How did you finance this deal?

PML

How did you add value to the deal?

We didn't do much value add on this deal. Took it as is so seller didn't have to clean it out.

What was the outcome?

Fast wholesale and seller got their money quick

Lessons learned? Challenges?

Never know who you know who needs your help, so tell everyone what you do.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Nope, just me and a flipper on this one.

closest big town to Benkelman is North Platte. I could maybe find someone. Tell me more about the property

Thanks Sterling.

Investment Info:

Small multi-family (2-4 units) wholesale investment.

Purchase price: $49,000
Cash invested: $1
Sale price: $60,000

This little wholesale deal needed a double close so we brought in a friend and local investor who brought $25,000 to the deal. We then brought in one of our private money lenders who loaned an additional $25,000 on the deal. Wholesaled the deal to another local investor who had been looking for a duplex for quite a while.

Our PML gets $1500 interest (5%) on their loaned money, our investor partner splits the proceeds which leaves them and us $3561.94 each for a deal that took 11 days to complete. We close the 26th.

Good times!

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

Making $3500 in 11 days with $0 dollars in the deal.

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

Came to us through a BP meet-up in Omaha Nebraska

How did you finance this deal?

OPM

How did you add value to the deal?

Found a great deal for a local investor who was having trouble finding a good deal.

What was the outcome?

Everybody won!

Lessons learned? Challenges?

Keep casting lines.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Just me.

Are you looking for bank financing or private and hard money?

Austin,

You should attend the meetup for Omaha. Lots of us own multifamily.

What is your timeline. I don't have a lot yet. Can you give me the dimensions of the house so I can start looking for a place to put it. Have you gotten any quote on the cost to move it? My contact info is on my page.