Investment Info:

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

Purchase price: $55,000
Cash invested: $1
Sale price: $75,000

This was the wholesale deal where I made my biggest wholesale fee, a total of $20,000. Through direct mail, the seller contacted me. We agreed to a $55,000 contract price for this duplex. I found a cash investor willing to pay $75,000. Since the Sheriff's Sale was imminent, I had to get the investor to buy quickly. It worked out. I believe he rents both sides for $750 each, which brings in $1,500 a month for him on the $75,000 purchase.

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

I sent direct mail to people facing foreclosure. The owner responded.

What was the outcome?

I got a cash investor to buy the property right before the Sheriff's Sale. He bought it for $55,000 and paid me a $20,000 wholesale fee. I believe he rents each unit of the duplex for $750 a month, bringing in $1,500 a month on his $75,000 purchase.