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$31,799 Profit!

Van used our wholesaling strategy to flip a HUD home!

Van E.

-Macon, GA

I purchased a HUD home for $13,300 and I wholesaled the home for $45,000. However, the buyers didn't have the $16,000 needed to close the deal being they're getting a hard money loan for the acquisition and rehab, so I had my Attorney draw up a second mortgage on the property with a security deed, holding both LLC and the buyer both liable with a $5,000 penalty if the loan is not re-paid within 45 days. According to the buyers they would have the money to repay me within 30 days, so I gave them an extra 15 days to pay.