From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.


General Info

BiggerPockets Q&A, Site Questions, & Announcements

1520 topics, 14434 posts — Last Post 04/23/14, 07:50AM

BiggerPockets Exclusive PRO Area

118 topics, 844 posts — Last Post 04/23/14, 08:28AM

New Member Introductions

10961 topics, 86391 posts — Last Post 04/23/14, 08:47AM

Real Estate Success Stories

397 topics, 6188 posts — Last Post 04/23/14, 07:49AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5981 topics, 47151 posts — Last Post 04/23/14, 08:44AM


649 topics, 5854 posts — Last Post 04/23/14, 05:49AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/21/14, 03:59PM

Home Owner Association (HOA) Issues & Problems Forum

238 topics, 1611 posts — Last Post 04/23/14, 04:02AM

Do it Yourself

658 topics, 6315 posts — Last Post 04/23/14, 06:01AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3702 topics, 29691 posts — Last Post 04/23/14, 07:54AM

Real Estate Guru, Book & Course Reviews and Discussions

1138 topics, 11593 posts — Last Post 04/23/14, 08:45AM

Ask About A Real Estate Company

742 topics, 7341 posts — Last Post 04/22/14, 11:25PM

Real Estate Investing

Real Estate Strategies


5628 topics, 43888 posts — Last Post 04/23/14, 08:38AM

Rehabbing and House Flipping

3348 topics, 31087 posts — Last Post 04/23/14, 08:37AM

Real Estate Development & New Home Construction

554 topics, 4694 posts — Last Post 04/22/14, 09:17PM

Innovative Strategies

705 topics, 6044 posts — Last Post 04/22/14, 04:06PM

Tax Liens, Notes, Paper, & Cash Flows Discussion

867 topics, 6692 posts — Last Post 04/22/14, 08:22PM

Rent to Own a.k.a. Lease Purchase, Lease Options

698 topics, 4918 posts — Last Post 04/23/14, 07:45AM

1031 Exchanges

143 topics, 1062 posts — Last Post 04/22/14, 03:21PM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1691 topics, 11313 posts — Last Post 04/22/14, 09:26PM

HUD, VA, and Tax Sales

416 topics, 3102 posts — Last Post 04/22/14, 01:39PM


1217 topics, 10594 posts — Last Post 04/22/14, 09:38PM

Short Sales

1538 topics, 13139 posts — Last Post 04/22/14, 01:38PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7236 topics, 71049 posts — Last Post 04/23/14, 08:46AM

Mobile Homes & Mobile Home Park Investing

639 topics, 5144 posts — Last Post 04/23/14, 07:57AM

Investor Basics

Starting Out

7725 topics, 60640 posts — Last Post 04/23/14, 08:24AM

Investor Psychology

431 topics, 6107 posts — Last Post 04/20/14, 06:04AM

General Real Estate Investing

4726 topics, 37302 posts — Last Post 04/23/14, 08:39AM

Real Estate Investor Marketing

1737 topics, 14139 posts — Last Post 04/23/14, 02:44AM

Commercial Real Estate

Commercial Real Estate Investing Forum

1412 topics, 9004 posts — Last Post 04/23/14, 08:50AM

Multi-Family and Apartment Investing

1122 topics, 9356 posts — Last Post 04/23/14, 08:18AM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

644 topics, 4909 posts — Last Post 04/22/14, 12:20PM

Business Basics

Goals, Business Plans & Entities

832 topics, 7566 posts — Last Post 04/23/14, 08:19AM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2801 topics, 20118 posts — Last Post 04/23/14, 06:24AM

Property Insurance

310 topics, 2055 posts — Last Post 04/22/14, 07:38AM

Personal Finance Discussion

330 topics, 2754 posts — Last Post 04/22/14, 12:06PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2852 topics, 19838 posts — Last Post 04/23/14, 08:25AM

Creative Real Estate Financing

1217 topics, 8843 posts — Last Post 04/23/14, 08:19AM

Crowdfunding Real Estate

35 topics, 463 posts — Last Post 04/19/14, 06:24PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1217 topics, 8024 posts — Last Post 04/23/14, 08:23AM

Bankers, Lenders, and Mortgage Brokers

442 topics, 1929 posts — Last Post 04/22/14, 11:03AM


269 topics, 1690 posts — Last Post 04/22/14, 07:33AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

2011 topics, 11714 posts — Last Post 04/23/14, 08:47AM

Americans & International Real Estate

162 topics, 568 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

65 topics, 439 posts — Last Post 04/22/14, 09:27AM


Real Estate Marketplace

Real Estate Marketplace

15074 topics, 54091 posts — Last Post 04/23/14, 08:30AM

Real Estate Events and Happenings

167 topics, 2588 posts — Last Post 04/23/14, 08:03AM


Off Topic


2907 topics, 32438 posts — Last Post 04/23/14, 04:54AM

Housing News & Real Estate Market

920 topics, 8378 posts — Last Post 04/23/14, 08:21AM

BiggerPockets Real Estate Investing Summit

97 topics, 1752 posts — Last Post 04/23/14, 04:51AM

BiggerPockets Resources

Forums » General Real Estate Investing » Describe your fastest real estate deal

Describe your fastest real estate deal

21 posts by 16 users


Wholesaler · Valrico, Florida

I was just doing some thinking and I would like to know the details of your fastest deal. How long it took from beginning to end, what type of deal (ie wholesale, flip, etc.), and what your profit was on that deal.

I'm just curious.


Real Estate Investor · sioux falls, South Dakota

Six hours!! About 15 years ago I had a brand-new home completed and ready for sale. I had a gentleman, his wife and two kids come and view it around 11 o'clock in the morning. He explained that he had incurable cancer and wanted to make sure he had a home for his family. He had transferred his cash to a local bank and was ready to close immediately. I called my title company and asked if they could do all the work to close that day. At five o'clock in the afternoon we met at the title company to sign all documents. He handed the title company a cashiers check and the deal was closed.

It funded the following morning.

This gentleman died eight days later. Needless to say, I'll never forget this transaction or this gentleman who wanted to make sure his affairs were in order and his family was taken care of. Rich

Real Estate Investor · Salem, Oregon

^^^ Amazing ^^^

Real Estate Investor · Garland, Texas

Originally posted by Rusty Thompson:
^^^ Amazing ^^^

That's exactly the word that came to mind for me, too.

It's a good reminder to have all our affairs in order, because we don't know when it may be our turn to "graduate."

Thanks, Rich.

Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545

Wholesaler · Memphis, Tennessee

4yrs ago our company was going to close on a property that we didnt have a buyer for yet. I called a client of mine and that same day I had them put it under contract, lined up the private loan and had it fund the same day and I collected my commission the same day as well. Never thought I could close a deal in the same day and get paid that fast. Never done one like that since.

Small_buymemphisnow_stacksCurt Davis, Buy Memphis Now
E-Mail: [email protected]
Telephone: 901-207-8977
KAIZEN Realty 901-221-4041

Rehabber · Santa Clarita, California

Rich's story is very heartwarming, I can see how it is an unforgettable transaction for him.

In trying to stay within the scope of the thread title, such a transaction would have actually started long before that as he would have building time, etc.
Also, the quickest transaction would have to be either wholesaling or some time of quick funding as anything other than those have holding times.

So for the quickest transaction, both Rich and I funded a loan and the very same day, received our principle and interest payments back from the title company. Tough to beet a one day transaction.

For my quickest wholesale deal, I locked a contract, and by the next day, had it sold to my investor buyer who was all-cash.

For my quickest rehab flip, I was in and out in 63 days. This includes the day of acquisition, all rehab days (14), marketing on MLS (contracted in first 3 days), and then closed after escrow by day 63. (the escrow was for 30 days, the buyers lender took longer, otherwise, this transaction would have closed in 49 days.)

Small_be_logoWill Barnard, Barnard Enterprises, Inc.
E-Mail: [email protected]

Residential Landlord · Washington, DC

A few things come to mind. I was high bidder at the Court House and an investor approached after the bidding and offered me 5K cash to assign the contract. Another Court House situation: I saw a notice for a trustee sale that looked good to me. I looked the property up and saw it was in the mls. I called the LA to inquire and was told it was UC. I bought it the next day at the trustee sale (of course I didn't let on to the LA about the sale - people often don't tell their agent due to embarassment, etc.). I called the LA on the way home from the Court House and sold my contract for 8K.

Residential Landlord · Washington, DC

I tried to delete the double post - sorry.

I had another story or two. I had a 5K "lot hold" on a new TH. It took about a year for them to get delivered. I had a contract on it before I closed. I owned it for 10 days and cleared 60K. This was in the later 80's. I bought a lot for 25K, with a study period of 45 days. I had a back to back closing and cleared a profit of 25K. I had two situations at the Court House where the bank screwed up and needed the property back. I had closed on neither. They paid me 10K on one and 3K on the other. I was responsible for a language change in the Trustee Memorandum of Sale on the 10K one.

SFR Investor · Annapolis, Maryland

Our first and only flip: we bought a foreclosure, closed on a Tuesday, on Friday a lady knocked on the door while we were painting (we put a FSBO sign in the yard day of closing), said her moving van is on the way from out of state, her house purchase fell through, she'll pay all cash and could we have it finished and closed by the next Friday? We did. Didn't make a mint, only cleared about $10,000 on a $70,000 investment after all was said and done as we took less than we were planning to due to the cash offer. It taught us a lot about potential holding costs, surprise repairs (luckily, minor ones), and other things all without learning the hard way. We decided to stick with rentals after that.

Rehabber · Chandler, Arizona

My fastest flip was 47 days. This includes rehab and closing with an FHA buyer.

Small_rezamp_buscard_whiteJustin S., Rezamp, LLC
E-Mail: [email protected]
Telephone: 4806780446
Comp like the MLS. Real-time feed and instant notifications of deals.

Residential Landlord · Washington, DC

I don't mean to hog the thread but I have a good one that I've remembered. I was at the Court House in 2000 and was high bid on a very nice house. While other properties were being auctioned, the owner ran up. He was out of breath and had a cashier's check for the arrearage (plus legal fee's, etc.) to bring his loan current. The trustee told him that I had already bought it. I went back and forth with the guy for a couple minutes and he agreed to pay me 20K to forget the "sale" and allow the trustee to take his check and cancel the sale. The trustee was going to need a few minutes to write up a bunch of sale memorandums and said he had no problem with the whole thing if we were back in 15 minutes. We drove to the guy's bank. He came out a few minutes later with my check. We went back to the Court House (4 blocks away) and he paid the trustee and the sale was officially cancelled. I don't know if this would fly today. Back then I happened to know the trustee pretty well.

btw - the whole time my agent was at my side saying "don't do it, I can get you more!". In other words, his commission on a resale went out the window!

Real Estate Investor · Portland, Oregon

My quickest deal was with an investor client of mine when I was an agent. A property of his that I sold for him on contract had been given back to him when the buyers wife threatened divorce because he was spending so much time there.

He called me and reminded me that I had told him at the time I had sold it, that I wished I could buy it because I liked the property so much. He asked if I was still interested and I said sure.

We agreed on a price and terms on the phone and I went to his house, wrote up a land sales contract with 2k down and closed it right there at his house. Sent everything to be recorded and still own it to this day.

I'm bummed at how slow flipping houses takes. I used to flip lots and would list them, get a contract same day and close it within a few days day in and day out during the good days. It's hard work making money in real estate now sorry to say.

Rehabber · Santa Clarita, California

Originally posted by Mike B:
I'm bummed at how slow flipping houses takes. I used to flip lots and would list them, get a contract same day and close it within a few days day in and day out during the good days. It's hard work making money in real estate now sorry to say.
The "hard" is what makes it great! Money does not come easy regardless of what the gurus preach! Flipping homes may take 90 or even 150 days, but the payouts are very good if you know what you are doing.

@Lynn M. - You have let that one deal discourage you from flipping again?!!! You made $10k on a $70k investment in less than two weeks which amounts to a 14% retrun and over 350% annualized return! Those kinds of numbers would have me coming back for some more!
It is the learning experiences that will make you a smarter, more profitable investor, you now have one under your belt, why not go for round two and generate some more working capital so that you may buy more rentals!

Small_be_logoWill Barnard, Barnard Enterprises, Inc.
E-Mail: [email protected]

Landlord · Chattanooga, Tennessee

Great posts!

A property in my target area was being sold on MLS and negotiated as a short sale by an investor. The investor couldn't come up with the cash in time to close the short sale. I was contacted as having been interested in the property and was given 2 days to come up with the funds to buy it as a short sale. I figured out how to come up with the cash to make the purchase for the 55K (very few repairs) property which I have rented for $1600.

McKellar Newsom,
Telephone: 423-902-8558
McKellar Newsom 423-902-8558 [email protected]

SFR Investor · Annapolis, Maryland

Originally posted by Will Barnard:

Lynn M. - You have let that one deal discourage you from flipping again?!!! You made $10k on a $70k investment in less than two weeks which amounts to a 14% retrun and over 350% annualized return! Those kinds of numbers would have me coming back for some more!
It is the learning experiences that will make you a smarter, more profitable investor, you now have one under your belt, why not go for round two and generate some more working capital so that you may buy more rentals!

Will, This was like 15 years ago, before the boom, early on in our careers with 2 small children and my husband with a job that took him away a lot. We did learn a lot, and while we came away with a great return, we understood that we were lucky that more wasn't wrong with the house, that buying a foreclosure might be more scary than we expected and when trying to sell, holding costs are important (although we didn't need them, we realized that a fast sale for less than expected was better than potentially sitting on it vacant for months with buyers that may fall through.) Not sure exactly what year it was, but also remember my husband upset that he had made more that month in the stock market doing no work than he did working for 2 weeks of his vacation to buy the house and turn it over, so that was an aspect at the time as well, although if I remember the market only lasted another 6-8 months before crashing, while our rentals held their value. Anyway, we took that money, bought a foreclosure that actually had a tenant in it, no turnover work necessary, and still have it today (same tenant, actually, all these years), and much happier with that scenario. Rentals just fit our lifestyle better.

Rehabber · Santa Clarita, California

Lynn, as they say, to each is his own. Every investor has different wants and needs. I am happy to hear you are satisfied with your investments, I just wanted to make sure you realized that you do have options and can make good money flipping (if you choose to).

Best wishes,


Small_be_logoWill Barnard, Barnard Enterprises, Inc.
E-Mail: [email protected]

Real Estate Investor · Taylorsville, Utah

Fastest, easy one hour. Was eating breakfast with my sister at Sambos and asked the usual waitress question anyone mention maybe buying or selling a house this week?

She said yes, so and so was in and she had just been served with divorce papers and said she was either going to burn the house down or sell it. I drove the few blocks, made her an offer for her half and she took it, found out where the husband worked, and 30 minutes later made him a offer for his half and he took it, had a investor looking for a home for his family in that area, and he quickly called me and had the money for the assignments to me chop, chop.

Not a bad idea taking my sister out to breakfast. Couldn't do it today as easy because California changed it divorce law to include a automatic stay in a divorce filing. To bad, it cost me a ton, had two single investors that would buy my deal with the husband and then use the right of possession to move in with the wife and drive the wife crazy until she sold, husbands would sell for pennies when they heard the plan, was almost an automatic deal every couple of weeks.

Real Estate Investor · Charlotte, North Carolina

i think i was 20 or 21 years old..i had very little money and was working a sales job that i HATED! i saved up as much money as possible and quit the job... i got an awesome loan through the small, local bank that i had been working for the past few's all about relationships :) i bought a forecosure for 45,500. put very little rehab into it bc i did all the work! i painted the place myself, using spill paints..for instance, they had nasty dark purples and greens fora few bucks a gallon. i bought all of them, and mixed with buckets of cheap white paint to make nice soft lavenders and other colors...i had home depot intall the carpet and i threw a granite slab in..i even bought the appliances off of craigslist..i laid down some floating laminate in the kitchen and tile for the 2 baths...i spent maybe 2 or 3 days cleaning the place as well! after a 2-3 week rehab, i was on the market for 2 days and had multiple offers! i sold for 87k..wasn't a huge profit spread, but for a guy with little money, it gave me the confidence i needed to realize that i could make a living at this :)

Bryan A., A Helping Hand Property Solutions, LLC
E-Mail: [email protected]
Telephone: 704-215-4687

Rehabber · Atlanta, Georgia

Fastest flip to date was 74 days, door to door with renovation and sale... and midway through the loan we had to swap from FHA to Conventional financing for that buyer!

Felt pretty good about that one.

Sign up