510 Profit... and Worth Every Penny

[Stephen Keighery]

Just wrapped a deal that reminded me why I play the long game in real estate.

I had a motivated seller, but it wasn't a house I wanted personally — so I locked it up and sent it to my buyer list. Most of my usuals passed due to the area, but one new buyer seemed interested. Paid the non-refundable EMD, so I assigned it to him.

Turns out, he daisy-chained it. The end buyer couldn’t close because his hard money lender wasn’t legit. The deal fell apart — and my inspection period had already expired.

Rather than letting my seller down, I closed on the property myself.

I then listed it retail as a wholetail. Got a few offers, but most had bad contingencies. Ended up selling to a cash buyer just to wrap it up.

After paying everyone — my acquisition guy, two title companies, my Dispo rep (as listing agent), the buyer’s agent, and of course the seller — I walked away with a whopping $510. This was a lot of work and a lot of capital laid out for $510.

 And I don’t regret a thing.

Why?

Because I protected my brand. I honored my word to the seller. I built loyalty with my team. And I got a glowing testimonial.

Too many wholesalers are focused on getting paid fast. I’m focused on getting paid forever. And that means doing the right thing, even when it’s inconvenient.

Curious — anyone else had a deal that shouldn’t have been worth it, but was?

I won't flash the check for this one 🤣