I received my largest check to date on a single property today... $25,000.00!!!
I have done many wholesale deals over the past years making 5k to 10k and one time I got a wholesale fee of 12k on a deal. But I did this deal a little different and it resulted in a check for 25k!!!
I had a 5 unit building that I was able to negotiate down to 135k. That's a huge discount considering this property only needed about 40k in rehab and had the potential rental income of $5,500 per month. So instead of simply wholesaling the deal I found a partner who had the cash to purchase and rehab the deal. I allowed him to take title to the property since it was his cash and I simply put a $25,000 note and mortgage on the property to protect my interest in the property.
The rehab was completed last week and we mailed a letter to a buyer who recently purchased a 6 unit in the area to see if he was interested in possibly buying ours. He immediately called my partner and went to look at the property. Which was a good thing that he called him instead of me because it turns out his religion did not allow him to shake a woman's hand and did not believe that women should be in business... I KNEW HE WOULD FOR SURE NOT LIKE ME...lol so I stayed silent in the process.
Long story short him and my money partner decided to partner on the deal and keep it so I was cashed out of my note and mortgage for $25,000.
Now remember I used NONE of my own money in this deal and NEVER had to access my credit for approval. I closed on the property on December 30th and was cashed out on March 17th (who says St. Patty's Day is not lucky? )
I have attached a copy of my check to motivate you to KEEP ON PUSHING!!!! Don't give up, get creative and make it happen!!!! Ahhhhhh I am so PUMPED!!!!!!
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
http://realwholesaling.com FREE wholesaling tips and resources!
To your success,
Carol Stinson
I CANT WAIT to be able to go to the Edge event! it will probably have to be next year for me! I will succeed and join you guys their next year(:
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
So awesome! Glad you are doing well...
Don't Wish the Past, Create the Future! - DH
Carol,you are the best.Green.$$$$ on green day.And thank you for being you.
All The Best
Chuck
Super Sweet Thinking!!
________________
Maurice
Hey Carol,
Your Family must be so proud of you! thank you very much
for posting your triumphs, it gives us all encouragement.
You Are My Wholesale Super-Hero!!!
"Do, or do not. There is no 'try'"
------Yoda
Think, say and do what is right; refuse to think, say or do what is wrong.