Wholesale #14, Danvers – Sold & Final Analysis

Ok, I think I left you in suspense long enough.  As I mentioned in my last post, I had a short sale that I was closing on Tuesday and was selling to another investor today.  Well, it turns out that the other investor was ready to roll on Tuesday so my attorney double closed this so I didn’t have to come to closing with any funds.  The other savings was that I didn’t have to get insurance on this since I would only be holding the property for about 10 minutes.  However, because I had to close this deal before I could sell it, I incurred some closing costs.

Here’s how the numbers break down:

 

Wholesale #14, Danvers - Final Analysis

 

You’ll notice I had a $130 in other holding expenses.  This was the cost of a locksmith who had to come to the property after the bank cut my lock box off the house, took the keys and put their lock box on the house.  Thankfully that only happened once.

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  • Wens Mathurin

    Hey Justin just came accross your site and it is beyond help quick question though, On a property like this how long did it take you to resell back? Also if you can ball park how long does it usually take you or your average time to resell a property under a wholesale contract, thanks appreciate it.

    • If I remember correctly, this one took a week or so to find a buyer. As of today, I have a really solid list of buyers so I can have a buyer within a phone call to a couple days.