Harriman TN Wholesale Assignment

[Cory King]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $90,000
Sale price: $95,000

Lead came from another wholesaler in the area who couldn't close it. We were prepared to flip it if needed, but wanted to assign it out as our workload was full at the time. Numbers made sense for someone to come pick it up for a nice flip or BRRRR. Buyer came from our local investor meetup. win win deal. seller got their home sold, buyer picked up a good deal, we made a quick $5k.

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

Opportunity was there for us to flip it or assign it out. Had a bigger work load at the time so assignment made sense.

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

Deal came from another local wholesaler who couldn't close.

How did you finance this deal?

Had private $ lined up. Ended up assigning it. That buyer used private money

How did you add value to the deal?

Didn't eat all the "meat on the bone" of the deal. Made a quick $5k assignment and kept things moving.

What was the outcome?

Found a buyer in our local investor meetup group. He and another member partnered on the deal. One brings the cash, the other brings the work and project management.

Lessons learned? Challenges?

Almost ran out of time ourselves. When doing an assignment always be prepared to close it yourself if need be.