Billy Calloway Wholesale Deal

 

Billy Calloway Wholesale Deal

New Level Home Solutions LLC in Los Angeles, CA
Billy Calloway with Karina Calloway

I found this deal on the MLS. I used the FB Deal Analyzer and saw that there was a potential ROI of over 15% and a net profit of $60K+. The listing agent also represented us as and she was able to get a double commission. We submitted an offer and our counter was accepted. After doing our due diligence, I noticed that my repair estimate was too low and now the deal was in jeopardy of falling into being a bad deal. I reached out to my buyer\'s list to see if we could get a JV partner and got no takers. However, one buyer said he would purchase the agreement from us as a wholesale deal whom also happened to be a FortuneBuilders alum. He was a more experienced investor with over 20 properties under his belt, he got a much better financing deal with the lender that he uses so the deal made sense again. We made a $10k profit and still closed under the initial terms we had set forth when we got the property under contract ourselves.

Wholesale Details

Property City: Los Angeles
Property State: CA
Purchase Price: $960,000
Repair Costs $106,123
Sale Price: $1,265,000

* 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?

After attending multiple Bootcamps, my confidence level was high while dealing with agents even though I’ve never completed a deal. I was able to use the resources provided to come up with a number that we could offer and not go higher. Even though my repair estimator was off about $25k, I still was in the ballpark with the help of the repair estimator and the deal analyzer. Our wholesale buyer was on the FortuneBuilder’s website and we were able to locate him and send him our JV Packet.