Investment Info:

Small multi-family (2-4 units) wholesale investment.

Purchase price: $93,000
Cash invested: $100
Sale price: $100,000

I worked with two sellers who jointly owned a 4 bed/2 bath duplex in the town of Elsmere. It was occupied with two good tenants in place and the property did not need any major repairs. I was able to wholesale this deal to an investor I previously worked with for a $7,000 assignment fee. I found this deal through direct mail and it took about 3 months of follow up before we were able to agree on a price and sign a purchase agreement. When I originally contacted the seller he was looking to sell another place he owned in the City of Wilmington. It was only after I asked if he had any other properties he was looking to sell when I was able to get this deal going.

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

Direct Mail

Lessons learned? Challenges?

Always ask potential sellers if they have any other properties they would be interested in selling. Follow Up!!