All Forum Posts by: Sheila Steubing

Investment Info:

Single-family residence wholesale investment.

Purchase price: $170,000

I found an off-market property that I entered into contract with as the buyer. I then found another buyer who was looking to flip the property and assigned the contract to the new buyer for an assignment fee of $12,000. Zero money invested!!
The sellers were an older couple who were currently 3 months behind on their mortgage and had freeloading family staying there. The place was too much for them and they desperately needed out of the situation so they could downsize.

What was the outcome?

The sellers walked away with about $40k after paying off their mortgage, I made $12k for wholesaling the deal and the end investor ended up making about $105k. I'd call that a win-win-win!!

Lessons learned? Challenges?

The deal was most challenging, being a licensed agent in the state of GA and protecting myself as far as contracts go.

Hey BP Community!

I am a licensed Realtor in the state of Georgia, looking to move into real estate investing, specifically wholesaling (at first). My biggest concern is making sure I am adhering to Georgia's laws as well as code of ethics. It seems like it's actually easier to wholesale without a license. If anyone is available to give guidance, point me in the right direction or even team up on a transaction in exchange for a share of the profit please reach out! 

Any advice is greatly appreciated!!

I posted this in wholesaling but I didn't realized this section was here...Anyone heard of or have any feedback on REI Game Changers, James Hodges program?