First Wholesale - CLOSED!
Hi everyone!
Just last month I closed my FIRST ever wholesale deal! It's felt like such a long time coming, and I'm so grateful for the experience. I am really looking forward to applying some lessons learned on the next one and thought I'd share!
The details: It was a SFH in a neighborhood surprisingly close to where I live north of Boston. I found it through driving for dollars, dropped a flyer, and added them to my direct mail campaign. After the flyer and first mailer they gave me a call and we set up a meeting! From there we had a little back and forth but I was able to build a really great rapport with them. The owner was in a nursing home, and had a family friend in charge of the estate. It had been vacant for several months and needed to be fully gutted. We settled on $400,000 contingent on me either finding a partner or an end buyer. I sent it out to a few people in my close network - a few passed at the price, but I felt very confident given all the research I had done. Finally, I connected with an end buyer who was able to close quickly and all cash for $420,000!
I have to say - it took a lot more work than I was expecting. I feel like so many of the people I've listened to on Podcast or Youtube make it seem like Wholesaling is such a quick and easy way to make money. Maybe someday after you get a number of them under your belt and have a great team and process built out, but couldn't that be said of any investment strategy? Just a thought.
Any way - I am already working on a few more, trying to get them under contract. I am hoping they go a little smoother... If you're reading this and located in MA let's connect!