Nathan Payne walks through a $19,000 wholesale deal on a Columbia, South Carolina FSBO listed at $340,000. The seller's comps were wrong; the actual market value was around $200,000. Payne connected a student buyer with a cash buyer at that price, earning the student a $19,000 assignment fee.
I want to tell you something interesting about how I do the deals. So this $19K deal we just did, it was one of the students and my members of my program, and he brings me a deal in Columbia, South Carolina. It was a house for sale by owner that had listed at $340K, way, way overpriced. But you know how it is for sale by owner, they try to do as much as they get, as much as they can half the time. Of course. So they have it at $340K. My guy, Noble, offered $380K. So sorry. $340,000. He offers $280,000. So it's $60K. He thinks he got a good deal. He's, hey man, can you help me find a buyer? I can't find anyone. I look at it. I'm like, man, you're too high, brother. Like you need to be— I just checked with my buyer. Cause like I said, I got type of buyers. So I just called one. The buyer wanted to be like at $200,000. Cause the guy just did his comps wrong.
Why Traditional Wholesaling Keeps Failing You (Use This Pre-Flip Method Instead)
