Double Close Duplex Deal

3 Replies

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.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

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.

We hate spam just as much as you