Carolina Allen Wholesale Deal

 

Carolina Allen Wholesale Deal

Quality Homes Reimagined, LLC in Salem, OR
Carolina Allen with Steven Allen

We found this property on Facebook, talked to the owner in May. They have had tough times due to Covid, including the death of loved ones. After looking at pictures I told them that they should list the property & would get top dollar. Gave them my good friend & agent's contact info so they could list. I got a call back from the owner in late August stating they just wanted to sell & wanted to know if I was still interested. I gave them my offer of $133,000, prior to our inspection. Our inspection found a leaking water pipe under the home that would cost about $15K to repair along with other items, the roof needs attention, a couple of broken windows, etc. This brought our purchase price to $100K, I knew this price wouldn't work for the homeowner because they owed $89K on the mortgage. So I offered to wholesale this home in hopes to find a buyer to take our place. Found a buyer to purchase at $150k plus closing costs.

Wholesale Details

Property City: Salem
Purchase Price: $133,000
Repair Costs $65,000
Sale Price: $150,000

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Case Study

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

The education & foundation from FortuneBuilderes helped us analyze this deal. Also the connections we made within the mastery community. My friend, agent Margaret Rockwell was so great about helping me with the process. And Cheri Harris helped guide us as well, when another investor tried to swipe this deal from under us.