Single-family residence wholesale investment.
Purchase price: $109,500
Cash invested: $1,000
Sale price: $117,000
We purchased this property from a tired landlord who was ready to retire and wanted to sell his rental in "as-is" condition.
How did you find this deal and how did you negotiate it?
We found this deal through our direct mail marketing. The seller originally accepted an owner financed option we presented. After some time and consideration he decided he would rather just take less money with a cash purchase and be done with the property.
How did you finance this deal?
This was a wholesale deal that we sold to another investor.
What was the outcome?
We worked with another investor who ended up closing on the property and flipping it for a profit.
Lessons learned? Challenges?
You never know what the seller needs, so by presenting multiple options you make yourself more attractive as a buyer the seller would want to work with.
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