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wholesale DEAL

Mariah Joyce

Marigold Capital Group, LLC. in Wampum, PA

I was invited to an ACRE Meeting by an investor who bought a prior wholesale deal of mine. I attended the meeting and sat next to a gentleman who was very friendly and he had asked me about my experience. I explained to him how I was invited and my experience with starting completely over as a new entity. He shared some similar experiences. As we were talking, he told me about how he likes acquiring rentals and how that is going well for him. However, he told me about a problem property he has. This property was a rehab that he acquired, but over the past five years, was unable to dedicate the necessary amount of time that it needed in order to be completed. Basically, he needed out from under it but did not know what to do about it. So, I got his contact information and decided that I would be calling him in the next day or so to discuss how I could help him by wholesaling his problem property for him. And I did just that. He was excited to hear what I would offer and how I was going to go about ridding him of this property. We came to an agreement, and I went to work marketing his property. I found the most qualified Buyer, and we put the property under contract and scheduled Closing for two weeks later. rnLast night, I attended my second ACRE meeting. Lynn was so excited and impressed with what had happened in the last 29 days, that he stood up in front of the entire group, and gave me the nicest referral and testimonial. He explained how I got him more money for his property than he ever thought he would get, that I was fair, professional, I communicated with all parties very well and they Buyers got a great deal as well! He encouraged anyone who had a problem property to allow me to help them relieve that unneeded stress in their lives by letting me wholesale it for them! Talk about a compliment!

Wholesale Details

Property City:
Rochester
Property State:
PA
Purchase Price:
$22,000
Sale Price:
$25,000
* These examples depicting income or earnings are NOT to be interpreted as common, typical, expected, or normal for an average student. Although we have numerous documented successful deals from our coaching students, we cannot track all of our students’ results, and therefore cannot provide a typical result. You should assume that the average person makes little to no money or could lose money as there is work and risk associated with investing in real estate. The students depicted have participated in advanced FortuneBuilders’ training and coaching. The participants shown are not paid for their stories; however, some of the students depicted may also be a FortuneBuilders' coach, and our coaches are compensated for their services. We believe in full transparency, so please read our Earnings and Income Disclaimers and Terms of Use

Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

Prior to physically going and looking at the property, I did a Desktop Analysis of what the property could be worth after repairs, took into consideration the current 'gutted' condition, and considered the private mortgage lien that was against the property. I knew to ask him where 'he wanted to be' with the selling price and that I would try to get as close to that as possible. I was very transparent with my intentions, explaining to him that I would be wholesaling it meaning, that I would make money from the sale when I found a qualified buyer. Additionally, when I showed the house to prospective buyers, I explained my position in the transaction. Everyone was understanding that there were no surprises. I used the Fortune Builders checklist of required information that should be included in a Wholesale Packet and created a beautiful Property Information Packet. I sent this to everyone on my Buyers List and anyone else who responded to my Craigslist Ad, Zillow listing, or Facebook post. Recipients of my Wholesale Packet (Property Information Packet, as I call it) said that my packets were stunning, that these packets made it easy for them to want to spend money with me, and that they set me apart from all the other Wholesalers who sent them leads.