Jonathan CroninREI Accelerator, Rei Accelerator · Multifamily Real Estate Investor & Coaching Leader

$35,000 wholesale fee, 9 units, and a projected stabilized value of $869K!

10 Dec 2024

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Jonathan Cronin walks through a nine-unit wholesale deal: he kept $35,000 of a $60,000 fee after splitting with a partner, bringing the buyer's price to $305,000. All-in cost lands under $440,000. He projects $869,000 stabilized value and $5,600 monthly net profit at conservative $850 rents.

Built in a $60,000 wholesale fee. I split it with my loan partner. I'm taking away $35,000 wholesale fee. Took away $35,000 wholesale fee at closing. I had it under contract for 245,000 and then I wholesaled it to my closing entity for 60,000. So the purchase price came to 305,000, and it's nine units. And after increasing the rents conservatively to 850, even though my property manager believes we can get 900, we're going to shoot for 900. Potentially more with section eight. But using 850, the stabilized value comes in around 869,000. And I'm all in. Closing costs, wholesale fee, everything. I'm all in just under 440,000. So almost double is like 5,600amonth net profit.