Pino Tenerelli

Affordable Pro Homes & Investments, LLC in Palmdale, CA

Pino Tenerelli with Patsy Tenerelli; Jose Amezcua

This deal was brought to my wife, business partner, by a real estate agent. It was an off-market deal. She began the negotiation process in August 2019; the seller was not ready and was nervous about a cash deal. Finally, put it under contract in November 2019. The first exit strategy in mind was to rehab it. However, it was 3 hours away from our area and we received so many calls from neighbors wanting to buy it that we decided to wholesale it and double closed on the property. One neighbor stated he had been "eyeing" the property for many years and could never get a hold of the owner.

Wholesale Details

Property City:

Yucca Valley

Property State:

CA

Purchase Price:

$78,280

Holding Costs:

$9,486

Sale Price:

$110,000

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Case Study

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

Consistency was key; the negotiation process took over 3 months. The seller was initially asking for too much and using our deal analyzer helped us stay within the "right numbers". The Internet Quickstart program was a huge impact on this deal; using our social media platforms reminded this agent that we buy houses in any area, in any condition. She was actually an agent that helped a buyer with a home we sold in Los Angeles, and then reached out to us months later when she remembered we were investors. Also, having an end buyer prior to closing escrow, made our PML fund the deal without hesitation.