Updated over 6 years ago on . Most recent reply
Wholesale that took 9 months to complete
Investment Info:
Small multi-family (2-4 units) wholesale investment.
Sale price: $180,000
Personal development is key to success. This deal took 9 months to complete and almost died. With determination and the will to not give up and figure it out, it was completed.
What made you interested in investing in this type of deal?
Gain experience wholesaling and building cash reserves
How did you find this deal and how did you negotiate it?
Found it by direct mail and went to visit the owner at the property and built rapport.
How did you finance this deal?
Wholesaled it to another investor that bought it.
How did you add value to the deal?
Got it under contract for under market value
What was the outcome?
Everyone made money together
Lessons learned? Challenges?
Learned to have everything that's needed signed and collected one the first trip if the property is 1 hour or longer away.
Learned how to get past Living Trust issues if the property is held in a Trust and no one knows how to obtain the original documents.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I did not on this one