This was a quick co-wholesale. Fellow wholesaler called me with his deal. I sent one of my students over to check out the level of rehab/remodel needed. I let him blast the deal to his buyers. Got the numbers together and made ONE phone call to a buyer I have sold properties to in that very neighborhood. Then I blasted out the property on one of my buyer websites. I got this deal on Saturday and had it under contract Monday evening. The one call I made turned out to be the person that took this deal.
This buyer bought at 76.5% of ARV minus repairs. Had I stuck to some rigid formula I would have let $2,000 walk away!
ARV is $225,000
Rehab/remodel is $20,000
Buy price was $152,000
Follow wholesaler had it at $148,000
We split the $4,000 fee.
Deal closes July 13th. This is the day I fly to Georgia to spend time with students in Georgia, Alabama and Florida. A two week "business trip"!
Thanks Dean! What you teach works. This was ANOTHER 00000 out of pocket deal.
Without a property (your product) EVERYTHING else is a waste of time. Concentrate on acquisitions!!
Make some offers today!!
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC