Temple TX wholesale deal
Investment Info:
Single-family residence wholesale investment.
Purchase price: $100,000
Cash invested: $1,000
Sale price: $115,000
My partner and I found this property on Zillow listed much higher than the value. It had been sitting on the market for a long time and the sellers were willing to drop the price significantly. It was listed for $170,000 and we got it under contract for $100,000 then sold the contract for $115,000
What made you interested in investing in this type of deal?
My partner was looking nationwide for wholesale deals
How did you find this deal and how did you negotiate it?
On Zillow, we negotiated with the agent
How did you finance this deal?
Cash
How did you add value to the deal?
We got the price to a much more reasonable amount, allowing the seller to finally sell it, and passing on a good deal to the end buyer
What was the outcome?
The property was assigned, and the buyer is now flipping it.
Lessons learned? Challenges?
Virtual wholesaling can be difficult. It takes many calls to get a deal under contract. Finding buyers in smaller markets is also challenging.