Wholesaling Deal Breakdown | 22K Profit

TL;DR

Learn how to make a sizable profit by wholesaling real estate, even on properties with restrictions and low ARVs.

Transcript

what is up guys zack in here and in today's video i'm gonna break down a 22 000 assignment deal right here on this townhouse in beautiful port st lucie florida i'm so excited to share with you exactly how we got this deal how we made 22 thousand dollars on the assignment and lastly and most importantly how you can do the same thing in your wholesal... Read More

Key Insights

• 💯 Not all wholesale real estate deals need to have perfect properties; motivation from the seller is often more important.
• ↘️ Properties with low ARVs and HOA restrictions can still be profitable if the right cash buyer is found.
• 😘 Cold calling tired landlords can yield potential deals, especially in areas with retiree populations and low-renovation neighborhoods.
• 😒 Virtual wholesaling is possible with the use of lockboxes and effective communication with sellers who are remotely located.
• 👂 While government lists are useful for finding distressed properties, deals like this one came from a list of tired landlords, which may not show up on government lists.
• 🥶 Investing time and effort in cold calling consistently can lead to successful wholesale deals.
• ❓ Wholesaling properties in HOA communities can be a lucrative niche, as many wholesalers tend to avoid these properties due to perceived difficulties.

Questions & Answers

Q: How did the presenter find this specific deal?

The deal was found by cold calling a list of tired landlords who were looking to sell their property. The list was obtained from a service like ListREI or Batch Leads.

Q: How did the presenter secure the deal without meeting the seller in person?

The seller lived in a different state, so the deal had to be done virtually. The seller provided access to the property through a lockbox, allowing the presenter's team to evaluate it remotely.

Q: How did the presenter navigate the HOA approval process?

They found a cash buyer who was willing to go through the HOA board approval process. By demonstrating their intent to improve the property and the neighborhood, the buyer gained approval.

Q: What steps did the presenter take to close the deal?

After negotiating a price with the seller, a contract was sent through Dotloop for electronic signature. The seller required assistance from their grandson, but e-signing was ultimately successful. The property was then assigned to the cash buyer.

Summary & Key Takeaways

• The video discusses how the presenter made a $22,000 profit on a wholesale real estate assignment deal in Port St. Lucie, Florida.

• The property, a townhouse with an ARV under $200,000, required approval from an HOA for purchase.

• By finding the right cash buyer and navigating the HOA approval process, the presenter successfully closed the deal and earned a substantial assignment fee.