I want to tell you a little story about a recent wholesale deal I completed.
This Deal took me a total of around 4 HOURS to complete. Yes 4 hours of work.
Lets start from the beginning……..
A few weeks ago I was driving around a few neighborhoods…Looking for Vacant Houses,
and looking for fixer uppers. This day I had compiled a list of about 50 or so vacant houses
that I would sent a Letter too.
Over the next few days I had sent out several letters……and my phone rang like crazy….
Once call was from a lady who had a rental property that she said was a DUMP!.
Over the phone I negotiated with her (she was a tough negotiator). But we finally
settled on a price of $55,000 CA$H.
Which I though was fair…. I ran comparable sales
on the property and fixed up it would be worth around $140,000.
The sellers husband who was on title was out of the country but she gave me his email
and I sent him a contract for $55,000. The next day he emailed me back a signed contract.
I had a deal………….
I then went and looked at the property……which My over the phone estimate of about
25,000 to 30,000 in repairs was spot on…..
I then called an investor (cash buyer), who came over and looked at the property……..
I offered the property to him for $63,000, which he said he would take……and the next
day I had him sign an assignment of contract for $8,000.
I took the contract and the assignment to the title company and my work was pretty much done…..
The title company then handled all of the closing and simply sent me a check……….
One small thing that the title company had to do was to get the Seller (who was out of the country),
to go to the US embassy and have all of the closing documents notarized
(I paid for this for the seller, I know I am a nice guy)
Once all of that was complete, which only took 1 week. The property ended up closing
in less than 3 weeks after I put the house under contract.
As you can see I really did not do a lot of work and cashed a Check for
$7,345.26 plus a $500 earnest money deposit paid by the buyer
This all started with my going out and finding a Vacant House………..
Closed this Deal on March 4, 2013……..Just 1 week ago………
If you would like to learn more about finding and flipping VACANT Houses and Cashing
$7,345 ++++ Checks Then go to
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