Kevin Schultz Wholesale Deal

Wholesale Details

Property City: Grand Rapids
Purchase Price: $5,000
Sale Price: $9,950

* 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?

We located this deal from a lead generated through a bandit sign campaign.

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

This was a wholesale deal. We did not make any repairs or improvements to the property.

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

We located an investor that plans to fix the property up to code and rent it out. We located this investor through a Craigslist posting.

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

Don't be afraid to offer the amount needed to make the deal work. This house was in need of major repairs and although an offer of $5,000 seems quite low, the seller stated that, 'at this point, $5,000 for the house was a blessing.' Also, just because a title company comes back with an unfavorable finding on a title search doesn't mean that is the end of the story.