Favorite Deal this month? | Community

Favorite Deal this month?

  • 25 October 2022
  • 7 replies

Userlevel 7
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  • Community Manager
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What’s your favorite deal you have done in the past month and why is it your favorite?

7 replies

Userlevel 2

I have one!  Crazy enough it was my first wholesale deal. 

The seller was months behind on their mortgage and wanted out of the property but was going through a messy separation and his wife still lived in the house. 

I learned pretty quickly I wasn’t the first call and a previous investor thoroughly confused the seller with a subject to offer that didn’t solve the problems. The seller eventually explained he needed:

  1. Time for his family and to vacate after closing. 
  2. Cash in his and wife’s pocket to find a new place. 
  3. Assurance that he didn’t have to carry the note forever. 

Long story short, I closed the deal subject to the original mortgage with a 3 year term and assigned the contract within about a week. We closed the deal a week later with the husband and wife it separate rooms. 

Even more interesting is what happened after closing in the parking lot. The buyer worked out a deal where the ex-wife could stay in the house and pay rent.  So, the wife stays in the house, the husband gets to walk away but holds the note for the house, the buyer has the deed, little out of pocket plus a mortgage at 4.25, a cash-flowing tenant and doesn’t have to make thousands in repairs. 


Userlevel 7
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@nyxsherwin This is a great story especially since it was your first wholesale deal! How did you find the seller? Flyers, direct mail, something else?

Userlevel 2
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My favorite deal of the month is always the deal I get done. Always.

Userlevel 7
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@masterrei absolutely!

Can you tell us about an interesting deal that you have done recently?

Userlevel 4
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I havent done any deals in the past month...BUT im working on one now. We’ve been testing out doing a large regional PPC campaign for...7 months now. 100+ leads and 0 deals. BUT we just got our first house under contract this week so that’s exciting. It’s in a random town in TN. I dont have much details on it yet, but hopefully it will turn into something, fingers crossed!

Userlevel 2
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Beth I hope I am replying to this correctly.  This format is a bit confusing to me on what I am replying too.  Anyhow, this weeks deal is a nice 3/2/2 2100 Sq Ft home with an ARV of 430K+. The house needs a roof, HVAC compressor, upstairs carpet, some exterior paint, and cleaning totaling 20-25K.  Seller is in financial trouble but not behind on his payment yet.  I made three offers, once cash for $265K and a Sub-to offer of 320k (55K more) but he took the cash offer. He needs the cash and needs it fast so we are closing in 7 days and he has a two month lease-back period to give him time to find a new place to live.  I find using the multiple offer strategy helps the sellers decide on whats best for them and their situation at that time. 

Userlevel 7
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@masterrei This is perfect.

I really like that you are giving people options so they can pick what’s best for them. Plus give them more control over their situation.

Was this an seo lead or some other kind of marketing?