One of our students, Antonio Lopez, found this property and locked it up in contract in 2 weeks. The property was a Pre-Foreclosure and the homeowner had been facing foreclosure for almost 3 years. We negotiated a Short Sale on the property and got the Short Sale approved in less than 3 months. After we closed on the property we started the rehab instead of wholesaling the property as we knew we would make a good profit on this property. We got the property at a good price and the area the property was located was a hot area. There were no major repairs needed, just some mild updates, which was another reason we knew we would make a nice profit. The rehab was completed in about 30 days. We held an open house and had the property and it only took about 3 days to get a buyer!
We made $58,000 on this 30 day short sale rehab!! Antonio did not have to risk any of his own funds as we put up every dollar on every project for our students!!