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?
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?
Congrats Drew! Real nice wholesale flip great work.
Amazing! Nice work!
Thank you! It was definitely a lucky one, but nonetheless, the one that got us started!
Way to go. Love it when people have home runs like that!!
Thank you to everyone for the support! Now we're going to use that capital to chase down some Multi-Family deals!
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