I received the information on the house I eventually placed under a Purchase and Sale Agreement from a real estate agent who forwarded the listing information to me. It was a three bedroom two bath home located in Lacey Washington. The listing price was $139,000. The seller was an older gentleman who wanted to sell his last rental house. His health is not good and he wanted to leave shortly for his winter home in Arizona. The house was currently vacant. I negotiated the price down to $111,700 all cash at closing. It will require approximately $25,000 for rehab upgrade. The ARV is between $220,000 and $240,000. I sold my assignment to a partner representing his company who had inquired earlier about another property I had for sale. I switched him to this property. He and his company liked it and the transaction closed last Friday. The assignment fee I received was $17,000! I have two properties that I have under contract that I am entering into a partnership agreement with that same company.
Wow! You are moving and shaking! Way to go making great things happen! You are a winner making connections! Thanks for sharing!
Hello Max, thanks for the informative success story and the posting. Good job on the deal you made, and the $17,000 profit. Good luck on the partnership. Never give up and keep on investing, moving forward and make us all proud of you. Take care.