Crazy Wholesale Deal on a Lake
Investment Info:
Single-family residence wholesale investment in Lacey.
Purchase price: $350,000
Cash invested: $1,000
Sale price: $400,000
Crazy house and floor plan, but additional dwelling, 5000sf, and lakefront.
What made you interested in investing in this type of deal?
I want to find deals, but do not want to be a flipper.
How did you find this deal and how did you negotiate it?
I was tipped off to this house by a wholesaler friend of mine that tried and failed to close the seller. I thought I would send her a letter and give it a shot.
How did you finance this deal?
I did not finance it.
How did you add value to the deal?
I found the deal, worked with the seller to provide her with a winning solution, and found a buyer through my brokerage wholesale division.
What was the outcome?
The seller was happy, the buyer was happy, and I made a great wholesale fee.
Lessons learned? Challenges?
The seller was difficult because she was very emotional about the poor decisions she made with this property, but it is my job to help solve her problems and provide a winning solution.