Why I liked it
I already had an end-buyer lined up and knew exactly what he wanted, so I went on the hunt for it.
This property met all of his criteria and had been on the market for a long time, so I thought I’d be able to negotiate it down even more (and I did).
Deal structure
Put under contract by me, and then I assigned the contract to the end buyer for a fee.
Deal outcome
I was able to negotiate the price down 14% from its initial asking price and received a higher fee because of that.
The property appraised at the original contract price, and the existing tenant’s lease jumped by $50/month within a couple of months after closing, and then another $50/month within the first year, so my buyer got a great deal.
Projected Numbers
Contract Price: $85,000
Assignment Price: $2,500
Rent: $800
Actual numbers
Contract Price: $73,000
Assignment Price: $2,900
Rent: $900