how I made $21,000 on one wholesale deal ( Deal Recap)

Okay, so this is a deal recap on 15867 Northland street in Detroit, Michigan. This lead source was an SMS blast to a code violations list. And it was a super simple wholesale deal to an investor. This is the property right here. Take a look. Really quick. 4 1, 1371 square feet and needed a pretty good rehab here. We got the property under contract for $14,000 and we ended up selling it. Oops. We ended up selling it for $35,000 for a total profit of $21,000 on this one single deal. So what we did was we went, we called the county courthouse to pull a code violations list from the engineering department and we did it. We ran an SMS blast to them. It was a direct response which once they responded to the text we ended up calling them and trying to negotiate a price that made sense. Honestly. The seller was very realistic. They were in like a move it quick profile. They had something things they wanted to pay. They simply needed $14,000. Right. They were super high intent and the property was not in that good of condition. So they were ready to go, ready to move and just, they were just inconvenienced by the property in general. We ended up finding a buyer by calling realtors on Zillow and we found that other people who were flipping properties for Burr in the area. One guy we called, he said to call his business partner and his business partner really liked it because it was a 4:1 and in Detroit the more bedrooms the better. They really liked it because of the bedroom count because like the more bedrooms the more you can get for rent obviously. And it was super simple like rehab. Like this was a perfect Burr deal. So buy rent, buy rehab, rent, refinance, repeat. And they were, they came in, they're going to renovate the property and they're going to rent it out. Super simple. And it was a local buyer too. And this guy, we added to him to our cash buyers list and we send him a lot of deals now because he was really simple to work with and he is, works with a bunch of. So he's a realtor and he has clients that he packages deals to. So he buys the deals, packages them up and sells them to his clients. The cool, the crazy part about this though, we had this buyer and so his client who was supposed to be closing on this property, they didn't wire in their funds, so they wired their funds. But the issue was the bank rejected it and it almost blew up at the finish line because the seller had signed all of her documents. But didn't get paid and she was dropping off the keys, but the wire had a hit and she was like, are you guys scamming me? She thought we were scamming her, but no, we literally just didn't. The buyer, the bank rejected the funds, which was really bad. When we tried to, when our buyer tried to wire, we were literally on the day of closing, everyone signed, but the buyer did not get the funds in on time. And we were literally hours away from potentially losing the deal. But what we did is I called the buyer and I called the transaction coordinator and I called the assistant until I finished, until I figured out the exact timeline for us to get the cash in. And I got a wire confirmation from the bank. I called her and made her get on the phone with the bank and show me the wire confirmation. This really made sure she was actually going to close on the property and it also, it also made sure that she was actually going to take action. We did require a $5,000 non refundable earnest money deposit. So even if they did back out, we did get to keep the 5k. But 21,000 was definitely better than 5,000. But this big EMD amount that's non refundable is a great way for fake buyers to stop fake buyers from like wasting your time and threatening your closing. Another thing too, it was really, really quick. So the lead came in from SMS blast early in December. We got under contract 14k. Like I said, it was a 4:1 and then we ended up closing and getting funded on 1 9. So like literally like 30 days from start to finish. What we like about this is that with SMS we can pull really targeted lists. So for example, like with an inbound strategy, which I really like, inbound they tend to be more simple closes with you can't really control location. But with SMS you're targeting specific people and specific zip codes and specific properties which is really nice which that especially with the stacked code violations list that those tend to be really motivated people and they tend to be people in distress. So it allows you to get in front of the right people and the deals that you know you'll be able to dispo. Another thing too is you don't need perfect negotiations. You just need like the right lead and you have to know how to problem solve. The better you can problem solve, the less you have to sell. And then also like, like, like I said, like understanding the buyer's problems are real and there or understand that buyer problems too are real and you need to protect yourself especially with that EMD before they happen. Because if we didn't get like a non refundable emd, she could have literally just backed out the day of closing and we would have been cooked. And, and then also like literally a lot of people ask me how we get such big deals and it doesn't, it's not because we do big houses, it's just because we're really good at sales. And so the seller got 14 on this one, we got 21 for a total of $35,000 total. The key takeaways is like I implement this for a lot of my students is targeted SMS because it allows us to weed through the unmotivated individuals very quickly. And the and also you can pull very targeted lists. So if you know your cash buyers are all buying in let's say the zip code 12345, you can pull a list from 12345. So every deal you get you can send to the same cash buyer. Right? The next thing too is like in these rental markets the more bedrooms the better. So if you are coming across a deal with a lot of bedrooms, you can easily disco that to a rental investor. Another thing too would be like that I want you guys to really implement is the non refundable EMD because it really makes the buyers show that they're motivated and actually get them to close on the deal. And then also never just assume funds are coming. You need to verify, set deadlines and like treat this like a business because you need to be protecting the seller and you also want to protect your pocket as well. But that's the deal recap on 15867 N. Lunch St. For $21,000 profit.