Updated over 5 years ago on . Most recent reply
First Deal (Wholesale)
Investment Info:
Mobile home wholesale investment in Bonneau.
Purchase price: $80,000
Cash invested: $250
Sale price: $82,000
Wholesale Deal
What made you interested in investing in this type of deal?
This property was in a prime location, which I was very familiar with, right outside of my home town (St. Stephens)
How did you find this deal and how did you negotiate it?
I found this deal from a Absentee list I pulled from Prop-stream.
Seller originally asked $100,000 - this property came with two homes on 1.5 acres.
My exit for this deal was to wholesale to and end buyer who I knew was looking for a deal like this. My buyers plan was to subdivide the parcel into 4 lots. however the county would only allow the buyer to subdivide in half. After running numbers, we agreed on 80k with seller an 82k with buyer
How did you finance this deal?
This was a wholesale deal. Other than marketing dollars, there were zero dollars out of my pocket to fund this deal