Updated about 3 years ago on . Most recent reply
First Land Wholesale
Investment Info:
Other wholesale investment in Duluth.
Purchase price: $1,500
Cash invested: $3,717
Sale price: $10,300
Bought and sold .38 acres
What made you interested in investing in this type of deal?
The Seller got caught up in a bad deal and let her land go into delinquency.
How did you find this deal and how did you negotiate it?
Direct mail and i called her.
How did you finance this deal?
My own cash.
How did you add value to the deal?
I paid off her lien on the land.
What was the outcome?
$6,583 in profit.
Lessons learned? Challenges?
Don’t lower your accepted price with the buyer thinking it will help the deal to close faster.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No.