0:49
Nathan Payne flipped a house by putting up 80% of the capital himself and getting family to cover 20%. He sold it for $460,000 and netted $86,000 after costs, helped by clearing a solar lien before the sale.
Nathan Payne flipped a house by putting up 80% of the capital himself and getting family to cover 20%. He sold it for $460,000 and netted $86,000 after costs, helped by clearing a solar lien before the sale.
So I went to some family and I said, hey, I have this property, I'm buying it at a discount. I already have 80% raised, 80% of the funds raised. Can you bring 20% and I'll give you a return on your money? So I was able to raise the other 20% and repairs, gave the down payment to the hard money lender, was able to buy the property, was able to clean it up, fix it, and then sell it. And we were able to sell for around $460,000 after fees and commissions and all that. It was $86,000. Technically the spread's bigger, but there's commissions and fees and everything involved. And luckily the solar lien was wiped off by the time we were able, like I said, to to sell it. And that's how we're able to make so much money. Now, as we rolled the dice, we could have not made this much money, but things aligned and we were able to make the money on the deal because again, the solar liens were wiped off, put it on the market where you're going to be able to make more money if you sell a house to someone that's going to live in it versus an investor because they need to make profit too.
Why Traditional Wholesaling Keeps Failing You (Use This Pre-Flip Method Instead)
