David Johnson

JFI Property Investments Corp in Madison Heights, MI

This property came to us from a friend of ours that was in need of help on their foreclosed home. The seller reached out to us for assistance knowing that we had started a real estate solutions company. We learned that the property was in the 6 month redemption period and only had 1 month and 12 days to either buy the property back or to sell it. We knew that we had to act fast so we set up a lunch with another investor that we met at a REIA meeting and discussed looking at the property together. We went to look at the property along with the other investor on 3/26/18 and then sent the pictures we took to a buyer. The buyer and the other investor were definitely interested and had experience with buying properties during the redemption period. After doing our due diligence and knowing that we would be able to help them we were able to get the property under contract on 4/5/18. While we were working on getting the property under contract, we were also working on our exit strategy. We ended up deciding to wholesale the property to the 2 other investors. We sent everything over to the title company and closed on 4/27/18 which took only 23 days after getting the property under contract. We are completely new to real estate and only 5 months into it and we have closed our first deal.