Gene Johnson Wholesale Deal

Wholesale Details

Property City: Stone Mountain
Property State: GA
Purchase Price: $55,000
Sale Price: $59,000

* 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 you find and structure the financing of this deal?

double closing


Provide a summary of the repairs and improvements you made to the property.

zero


How did you find a buyer for the property if you sold it?

REI Meetup.


What are some of the major lessons learned that you would like to share with other students that they can learn from?

Our original end buyer could not close, so we were able to get an extension with the seller and during that time find another buyer. At this point, we just wanted to get the deal done, so we offered a 5k price reduction just to get to the closing table. A small profit is better than no profit.