how I made $43,707.42 on one wholesale deal (Deal Recap)

Okay, so we're going to do a brief deal recap here. A wholesale deal we did in Knoxville. It was 832 Sevierville Pike, Knoxville, Tennessee 37920. So the deal type was a wholesale. Basically it means like you're going to buy the property and list it all we have to do like clean and maybe do a couple thousand in repairs. The lead source was for sale by owner. We got this lead for free. If you don't believe me, you can see the property listed here. It was closed late last year. 12 or in 2024. 12. 2024. This is one of our biggest deals today. That's why I wanted to show you guys this. But this is a deal recap. Basically. Fast summary is for sale by owner Elite. It was a one call close on the first ever conversation from a new hire. Locked. We locked up at 200,000. We made super light renovations, so carpet, paint, deep cleaning. And then we listed it retail. We listed on 11 5. It went pending 11 18. So in 13 days again, I'll show you that here. And then we closed just over a month later. So we listed it right here. 115 went pending in 13 days. So what a wholesale means is basically it's wholesale plus retail combined. Just those two words. So instead of assigning a contract, we bought the property, did a light cosmetic improvements, not a full rehab, and listed it on the market to on the retail market and sold it to an end buyer. The cool part about this though is we still didn't use any of our own money. So we didn't have to have any of our own money for this deal. That's the cool part about like when you really understand real estate wholesale is, you know, have to use your money to purchase properties. We used private lending to fund the purchase and the turn so we literally didn't have to come out of pocket for anything. And that means like literally our private lender provided all the capital and then we paid them just interest on top of that. So at closing we had to pay them out a certain amount of fee and basically all of the cost, all of the soft costs, all of the attorney fees, all the lender fees, everything is built into the deal and if the deal is good enough, it can handle all those numbers. So let's talk about why this deal happened. One seller situation. It was super simple. The house was in great condition. Well, it was in good condition, but they didn't want to live there anymore and they wanted to move. But they couldn't really keep making the Mortgage payments. So they just want a fast and easy solution. So what we gave them was just a fair offer, you know, relatively quick close of 30 days. And because it wasn't a rehab, it really didn't need a huge inspection. We simply just needed to solve the problem and move fast and just make sure they could get out there without having to pay anything else. So again, it was a for sale by owner lead, meaning we spent zero dollars on marketing. And I just hired a new acquisition guy. This is a really funny story. I hired a new acquisitions guy. I was like, bro, you're going to go in here and you're going to call this lead. I didn't even know if it was a good lead or not. I'm like, you're going to call this lead and you're going to try and close them. He followed our script word for it. It's his first ever conversation using our script and he actually closed the deal. So looking at this, bought for 200,000, listed for on 11 5, 2024, pending on 11, 18, 2024 and closed on 12, 20, 2024 and it closed for $265,000. We did have to pay some, some closing costs to the buyer. We'll show you here. So like here's the actual hud. You can see my LLC here. We did have to pay some fee or some closing costs for the buyers. We ended up giving them some cash at as well. We ended up giving them some cash at close to be able to cover some of the repairs they requested during the inspection period. Then we had to pay off our first mortgage as well. And then our total balance left over was $43,707.42 total. So that was exactly what went into our bank account at close. So how we did it step by step is we called the seller and we qualified them fast because it was a free leaders for sub owner and they wanted fast and easy. We knew it was in good condition and they wanted to move quickly. So we contracted them at 200, which was a great deal, about 25% lower than market value with super clear terms and quick execution. We funded it with private lending. No personal cash was used. We used other people's money in order to fund this and that allowed us to move fast without hurting our liquidity at all. We didn't do a massive rehab. We literally just did carpet paint, deep cleaning and we just got retail ready. We didn't do like arv. We literally just got to where that it would be able to be listed on the Market. It went to market super quick, went pending in 13 days and we closed clean on on the near the end of the year at 1220. So why did this deal work? Because we solved the seller's real problem. Speed and ease. We did move fast. We kept the prove it's really simple and strategic enough to keep our price below where the private money lender would still cover it. And then we use private money so the cash wasn't a bottleneck. And we literally were able to use other people's money to do this deal. And then we got to profit off of it. And we controlled the exit by being able to list it for market value in retail. So our three key takeaways from this is convenience. Beat the price for them. And it does for a lot more people than they realize. Wholetailing is a very underrated strategy because those light turns and using other people's money can get you huge payouts. And then private lending is a massive opportunity. It lets you do deals without needing your own cash. So hope you guys enjoyed that breakdown of the deal. Again, you can see all of our stuff here on this on our HUD right here. We which shows our entire payouts and all that to our company. And then if you want to look at the deal being listed and all. And then what we did, by the way, all of these pictures were virtually staged through AI. AI is super powerful if you didn't know. So you can go through here and check that out too. Really neat property. I'm glad we got that one done. Hope you guys enjoyed our deal recap of a 132 Superville Pike.