My first wholesale deal in Baltimore Md was the quikets and easit thing I have seen in a long time! This deal literally took me 6 hours of invested to put the property under contract, find a buyer and close on the deal. Once again buy doing my home work and looking for another property I came across an investor who was selling a property that he rehabbed, he gave information about a house next to him that he was interested in. He asked me to find the owner and he would be willing to look into the property futher. After getting off the phone and searching possible owners I made a list of names and phone number to call the next day at work. On my pitiful 30 minute lunch break I started tocall the numbers, diconnected after disconnected was all I was getting. After sitting back and taking a bite of my sandwhich I did a little more research to find possible owners, 5 minutes of searching lead to me about 10 new phone numbers and even more address. I finally got someone on the line after the fourth phone call.
I spoke with a lady that lived in Washington D.C. after taking a few seconds to explain who I was ans how I had her information we began to talk about the house she owned in Baltimore MD. in the Johns Hpkins area. The house was located in the 1500 block of N. Durham a small alley block that people would typically drive right by. The owner was a little skeptical to talk to much about about contracts and paper work with me so I gave her information about myself and my mentorship program calle Flop 2 Flip Nation lead by Marcel Umphery. She looked into the information I provided her with and that only gave me the creditability I needed to put the property under contract. Over the course of 2 day using about 30 minutes of my personal time each day, I mailed her the contract and she mailed it back to me.
Once I had the contract back, it was time to find a buyer that was going to make tons of money on this deeply discounted deal in Baltimore. The investor who gave me the lead was tied up with several other project so he could not make the purchase at the time. I took about 1 hour to put together my marketing strategy, and the phone was ringinf off the hook the next day, I had people lining up to see the property. My lucky buyer faxed me proof of funds and sent a deposit along with a contract to my title company. As soon as my title compay had a clean title back we scheduled a closing date I went into the office signed some paper work, the buyer paidme, I paid the nice lady for selling me her house, and the buyer left the office happy knowing that he had just bought a great property from me at a dicounted price.
Here is some info on the property:
Only Asking: $5k OBO
*** Get in on the New East Side ***
ARV: 60 - 85k
Rents in Area: 825 - $1000
Repair Estimate: 30k
Suggested Exit: Buy & Hold