Updated over 3 years ago on . Most recent reply
Wholesale in Gulfport, FL
Investment Info:
Single-family residence wholesale investment.
Purchase price: $195,000
Sale price: $240,000
Fixer upper property flipped with wholesale for $45k profit to investors.
What made you interested in investing in this type of deal?
Family friend needed a cash offer and we helped them get it sold fast to some investors.
How did you find this deal and how did you negotiate it?
Electrician's family owned the home and told us about the property after we hired them, they asked if we could help them out and we worked out a great deal for everyone involved.
How did you finance this deal?
Wholesale, no financing involved
How did you add value to the deal?
Owners were low balled by another wholesaler so we offered them more and it made them happy. Had some investors in mind and they loved the deal. Win-Win-Win
What was the outcome?
Cash offer on the property
Lessons learned? Challenges?
We were open and honest to the owners the whole time and it made for a smooth process and they actually came back to us with another family member a few months later.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
N/A