Wholesaled First Property via Craigslist

I have an investor client that purchased a house that he wanted to keep as a rental. He bought the thing for $5,000 --- super cheap. Well, after demo, it turned out that it was going to take a lot more work to get rental ready than he was ready for at the moment. He told me if he could net $7,500 then he'd be happy.

So I got a contract with him at $7,500. I immediately marketed the property via our Investment Property website which we created with Weebly (which you can create simple websites for free) and sent out to my email list of investors that I have formed over time.

After sending out the email, a guy wrote me a message that I had never heard of. He must have subscribed to be on my email list (most likely from a craigslist ad -- click for sample). He said that he wanted the property. I gave the guy a buzz. I told him that he would have to pay all closing costs (as I was only marketing the property for $10k) and he was fine with that.

So to make sure he was serious, we set up a time to meet the next day for me to get a contract signed and collect $1,000 in earnest money. We met at our local Waffle House (smothered and covered) and signed the contract on the hood of his car. I set up the closing a few days later where we bought and sold the property in the same day. This was the easiest transaction that I have handled thus far in my real estate investing career.

We made a quick $2,262.50 and I still have no idea who this buyer is or where he came from.