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wholesale DEAL

Ryan Morris

Cordial Properties LLC in Austin, TX
Ryan Morris with Susanne Morris

I was searching Craigslist for landlords who were trying to lease their house by owner. I thought that someone trying to lease a home on their own might not be having a good experience doing so. When I found this home, the first thing that I noticed was that the photos were not professional and that the interior looked worn and in need of repair. I called the owner and she was excited that I was interested in buying her home. We went back and forth on price a bit and I kept in touch with her for a few weeks before I decided to just get the home under contract and reach out to the connections I had made while networking. I found someone to split the deal with and we tried to see if we could make it work as a flip. We couldn't get the homeowner to budge on price for our MAO. As a last ditch effort to salvage the deal, I offered it for sale on several Facebook groups and had an offer with a two day option within hours! It closed a few weeks later and our team split the earnings 50/50 with our partner.

Wholesale Details

Property City:
Austin
Property State:
TX
Purchase Price:
$170,000
Sale Price:
$198,000
* 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?

Starting off I had a rudimentary knowledge of these types of deals. FortuneBuilders emphasized how important it is to network with other investors. That's been a real game changer for us. I had no idea how much of a collective effort this business needs to be in order to work. The coaching we've received and questions answered quickly through email were also invaluable. Of course, the deal analyzer was super helpful to figure out if the deal was even worth pursuing.