Single-family residence wholesale investment.
Purchase price: $50,000
Cash invested: $1
Sale price: $58,500
I put an estate property under contract for $50,000. I collected a contract release fee of $8,500 so the cash investors (two flippers) could buy for $50,000. The flippers fixed it and sold it for $103,000.
How did you find this deal and how did you negotiate it?
The listing agent approached me after having trouble selling her listing for a higher price. It was an estate that simply wanted to sell the house quickly.
How did you finance this deal?
I did a wholesale transaction with a couple of cash investors I had done deals with in the past.
What was the outcome?
I collected an $8,500 wholesale fee. The flippers bought for $50,000, improved the property, and sold it for $103,000.
As good as it gets for wholesale. Nice. Question...
Why did that particular agent approach you specifically? She knew you as a wholesaler or for another reason? Either way, great example of networking right there.
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