Upper Chichester Wholesale Deal
Investment Info:
Single-family residence wholesale investment.
Purchase price: $101,000
Cash invested: $100
Sale price: $111,000
This was a wholesale deal with a seller that was struggling to make payments on a vacant home she owned before buying her current home.
How did you find this deal and how did you negotiate it?
I found this deal through direct mail marketing with postcards.
Lessons learned? Challenges?
I started speaking with this seller back in September 2019 and it took me about 4-5 weeks of calling to follow up before finally reaching her over the phone. At the time the market value of the home was not high enough to pay her enough money to cover her mortgage payoff. Through my follow up process I noticed some recent sales in May 2020 that would create a bigger spread and allow us to get her enough money to pay off the mortgage.