For those of you that follow me you know we have done several deals. We have only ever double closed. We had a property under contract that we had intended to flip. We ended up finding more issues than we were comfortable with so we decided to wholesale it. We ended up taking an offer that would only net us $3,500. (Can't go broke making a profit though right?) If we were to double close it could easily eat 25-30% of the small profit so we elected to do an assignment as we have that provision in our contracts. All the documents are signed and closing is set for later this month. I'll keep you guys posted on anything that surprises me.
Plus that $3,500 covers 2 months of Direct mail. So no complaints.
This is REAL real estate investing. Love to hear these stories. You are following your plan and getting results that appear to be building up to a sustainable business operation. Great work! Thanks for sharing!
Thank you very much @Dev Horn for your kind words. That is our plan. We are adding a website and dialing as well. This is our 4th "wholesale". Profit on the other 3 was so high though that we jut double closed. This is the only one we have assigned. We have another home under contract. Plus two more that we are working on. The plan is to be absolutely slammed. My business partner is actually going to transition into a full-time roll within a month or two. With the end goal being me joining him.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.