how I made $10,000 on one wholesale deal (Deal Recap)

Okay, so this is a deal recap on 200 McGill Street. This is in Madisonville, Tennessee. Again, another for sale owner. That means we spent zero dollars on the marketing. It was a simple, super simple wholesale deal, direct to buyer. This is the actual address of the property right here. You can see that it ended up being flipped. It ended up being flipped and sold. That was not us. We were the wholesaler that assigned it to this buyer, which you'll see where I found the buyer here soon. And for proof of the fee, let's see, let me open this up here. I think this is it right here. Good. Okay. And for proof of the fee, you can see we got it under contract for 75,000 and then our assignment contract for 85,000 here with all of our information there as well. Okay. So going back to this, how this deal came in was a literal Craigslist for sub owner. We were searching through. I had my acquisitions guys searching through Craigslist at the time to find leads and they did find some unfor sale owner. It wasn't listed with an agent. It was a landlord. Usually they're practical, they're more logical than emotional. And it was a type of seller who wanted simplicity and certainty because they wanted to get into a new business. They didn't want to squeeze every last dollar out. They're not trying to like make renovations to do that. They just want simple sale. They wanted the cash they needed to move on to the next business. Right. He was a landlord and basically he was like, hey son, I'm going to give you the rights to sell this property. Just make it to where I don't have to answer any phone calls. Just sell the property. So the son sold the property for them. It wasn't really distressed or panic sell. It was more like we don't want to deal with tenants anymore. We just want a smooth transaction. We rather be, we'd rather be super simple and get into the next business than overcomplicate and try to get market like a bunch of like maximum ARV value. Right. This is this, this type of seller was really straightforward. We were really open and he knew the timeline, he knew what we were doing. We had to just explain everything to him. And he was super cool with it and he made the next steps like we made the next steps feel super easy because it was like obvious of what we were doing. Right. So the property in its current condition was rent ready. So they literally could have gone in and just rented the property out. Would have been a great cash flow property. But it wasn't retail ready. So our buyers ended up wanting to go in and flip and make it hgtv ready to list it on the market. But it did sat in a sweet spot. It made really good sense for a long term investor and also made really good sense for a flipper. So it was literally the best of both worlds. Perfect for a buyer who cared about cash flow and simplicity and another buyer who cared about getting a return on investment very quickly. So we structured this one is get this one under contract at 70% of ARV, minus repairs, minus a $10,000 fee. Match it to an investor buyer who wanted a, for this specific example, either a rent ready property or a flip property. We ended up selling it to a flip property, a flipper and then we assigned that deal for free. In fact, there was no complicated innovation. There was no buying the property. There was not even like using private money. It was literally just a clean spread, chopped cheese, 10 days, right? The favorite part about this deal though was I sold it to a buyer who I met in my city at a local meetup. So I didn't have to blast emails at 10,000 buyers, didn't have to make a bunch of calls. It was literally relationship driven. I knew the guy and he wanted to flip properties there. So I just sent it to him, Boom, boom, signed the paper, it was over with. We already have trust and you already have a relationship with a buyer like that. It was like super easy to move the deal and the buyer liked it because he had multiple exit strategies. He could keep it ready and just let it go there. It was like a super easy deal and the price made sense to flip to if he wanted. And it was like a super clean handoff. It was just like the tenants left, they left the property, they got it, they instantly flipped it and sold it for a profit. The seller side was really organized because the son was helping everything and he was really good at communication. The house didn't have any major surprises and the buyer was already in our network. So it was like a very clean and super simple deal. I wish all deals went like this. This wasn't a deal where there was a bunch of like inspections you had to fight where you didn't know if they were real buyers. You didn't have to get hammered on retrace. It was nothing like that. It was literally just lock it up, call my buddy the buyer, move it to closing. We had the right seller, was a practical landlord and easy communication. They knew they weren't going to get market value and they were comfortable with what we were doing. And it was the right house, it was rent ready and investor friendly for a flipper too. And just because we had the right buyer made it even more simple to where we literally just assigned the deal, made a quick 10k and walked away. When those three lineup like that, it's like a super clean and easy deal. Now, I'm not going to say all of them go like that, but those are the deals that you really want to appreciate because that was 10k for like minimal work.