Wholesale in Colorado Springs

3 Replies

Investment Info:

Single-family residence wholesale investment in Colorado Spgs.

Purchase price: $190,000
Sale price: $230,000

This property was originally listed on MLS however I saw opportunity since it had been on market for over a month. After reaching out and negotiating the price, I was able to get a 30% discount. (unbelievable in this market)
I built a relationship with the agent and owner and was able to get a purchase agreement the same day.

What made you interested in investing in this type of deal?

Opportunity in an up and coming area. This property in particular was only 3min away from the downtown area.

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

MLS and negotiated through an agent.

How did you finance this deal?

100% OPM

How did you add value to the deal?

Created a property presentation for my buyers so they could see all the potential upside the property came with.

What was the outcome?

A satisfied seller that was out of state, and an excited investor wanting to be part of a great opportunity.

Originally posted by @Luke Trovinger :

Congratulations on the deal @Thomas Carrillo! Especially in the springs in this market! Do you typically look for off market deals for your wholesales? An MLS wholesale sounds like it'd be pretty rare these days! Best of luck moving forward.

Thank you Luke. Normally MLS deals are tough so this one was definitely an uncommon situation. I look for deals anywhere and everywhere from MLS to Facebook marketplace. I guess the lesson here is to always be on the lookout for opportunity.

 

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