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Updated almost 2 years ago on .

User Stats

111
Posts
48
Votes
Matthew Bernal
  • Investor
  • Austin, TX
48
Votes |
111
Posts

First Ever REI Deal In 2021

Matthew Bernal
  • Investor
  • Austin, TX
Posted

Investment Info:

Small multi-family (2-4 units) wholesale investment in Naples.

Purchase price: $220,000
Cash invested: $5,000
Sale price: $250,000

I was thrilled to close my first wholesale deal on a beautiful property in Naples, FL. The house was located at 4417 W Alhambra Circle, a quiet and desirable neighborhood.

I negotiated a great price of $220,000 and put the property under contract. I then marketed the deal to my cash buyers list and found an investor interested in buying it as a fix and flip. I assigned the contract to him for $250,000.

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

This was my very first deal. All I knew was that I needed to find a distressed property, offer a solution to the seller, get the property under contract, and find a buyer.

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

I found the deal by leveraging my contacts and digital resources. Propstream, Fortunebuilders, and Realeflow were incredibly helpful.

How did you finance this deal?

This was a wholesale, so no financing necessary. I was also lucky enough to have made connections with several realtor-investors.

  • Matthew Bernal
  • [email protected]
  • 808-366-5421