Wholesale deal to a friend.
Investment Info:
Single-family residence wholesale investment.
Purchase price: $50,000
Cash invested: $10
Sale price: $60,000
Tired landlord. Sold the house to my friend who I see almost everyday who is an agent also.
What made you interested in investing in this type of deal?
Seller wanted to sell right away.
How did you find this deal and how did you negotiate it?
Cold call. & Gave the seller a slight push-back on his price so he wouldn't try to ask more for it and so that he can feel as though he won the negotiation.
How did you finance this deal?
Pass through funding
How did you add value to the deal?
No renovations were done.
What was the outcome?
Easy double closing.
Lessons learned? Challenges?
If someone wants a price that's a deal for you, get face to face to as fast as possible and sign the deal up. Don't try to get them to go lower.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
n/a
