Wholesale Deal #1 - $42,500 profit before tax
Investment Info:
Single-family residence wholesale investment.
Purchase price: $12,500
Sale price: $55,000
Bought REO properties from a bank for $12,500, resold them to an investor in Peoria for $55,000 the same day.
What made you interested in investing in this type of deal?
Nothing, I got a call and the opportunity was there so I investigated it further, reached out to my network, and just put it together out of thin air so-to-speak.
How did you find this deal and how did you negotiate it?
A friend/banker called me. He wanted 30k, we offered 12.5k, they accepted. I reached out to our network of investors, informed them we had 6 homes for sale in the area, they offered $55k and we accepted
How did you finance this deal?
We didn't spend a penny on the deal. No financing is necessary.
How did you add value to the deal?
NA
What was the outcome?
$42,500 in profit
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes.