Updated over 1 year ago on . Most recent reply
Largest Deal To Date
Investment Info:
Other wholesale investment.
Purchase price: $57,500
Cash invested: $100
Sale price: $90,000
Small vacant lot, overlooking I-40 on the westside of Nashville
How did you find this deal and how did you negotiate it?
Direct mail to this address for 8 months. Spoke with the seller a few month prior to contracting. Just before Thanksgiving the seller was ready to talk. The negotiation was: seller wanted 65, I wanted it at 50. Split the difference, 57,500.
What was the outcome?
Wholesaled to a builder to build a house.
Lessons learned? Challenges?
Leave some on the bone for the end buyer. A year or so went by and I wondered did I leave enough room for the builder. The city required the road to be extended a few feet, along with water and sewer.