So how hard do you guys have to work to make 25 000 well, this house is super creepy and we're going to be actually talking to you guys on how we made 25 000 profit doing absolutely nothing to this property. So this property we found a couple weeks ago - i actually can't take any credit for it. We are on our way from a flip and ricky actually found this on zillow, which is one really interesting thing, because it goes to show that you guys can find properties on zillow still and you can find properties if you're not even represented by an agent. So that's exactly what happened.

He saw this listing within the first 16 minutes of it going live and he i was too busy. I couldn't write up the offer for our business, so he actually uh went out to the listing agent and asked if she could represent us on both sides of the deal which we've done before and it's actually worked quite well for us before. So that's exactly what happened. You want to explain kind of the purchase price and the negotiation process of it, of course.

So some of the takeaways is that this property, or some of the details that you guys should know, is that this property is located near downtown. Gilbert it was posted for 285, 000 and really anything in gilbert. That's posted for less than 300 000 is something that just catches our attention right away. I showed it to nick nick's my right hand, guy he's the brains behind the entire project uh.

He said i should make an offer around 270 and with that being said, i mean we really didn't know the condition we just knew the area we actually had. One of our guy michael, actually walk this property. He sent us 79 photos in like 20 minutes of him inspecting this property and we're able to lock it up for 240 000. That's 45, 000 below asking price in this hot market, pretty much, we were acquiring the property or buying the property just for the land itself, there's a very similar comp around that same price range and what nick and i decided to do as we walked.

This property is, we saw, as you guys can tell. This house needs a lot of work and right now we have a lot of projects going on the type of work. That really doesn't make much sense for us, because the net margins on the cash on cash return just aren't there. So normally, if the margins don't make sense nick and i back then when we first got started first got started.

This is only really our first year, but with that being said, we used to think that flipping the property was the only solution, but that's definitely not. The case. Nick came up with the solution of wholesaling it, and that is where we walked away with 25 000. Just by simply reassigning the contract to purchase this property and i'll have nick actually explain exactly what that means yeah.

So after we walked the property ourselves. Personally, we realize that this is not the project. For us. We have a pretty big cash buyer list that we have over the year and a half that we've been working with people.

So what we ended up doing is we actually ended up, sending it off to one of our cash buyers and asked if they wanted to purchase the property and what we did is we simply took that 240 000 purchase price. We added on what we wanted to make on that which was 25 000, and we ended up selling this property or in the process of selling this property for 265 000 and that difference between our purchase price and what we're assigning it for is the money that We make - and this is how wholesalers make their money in the real estate market. They simply lock up a contract for a price point. They add their fee to it and they sell it to another end buyer or the end flipper or whatever he's going to do with this property he may rent it.

He may tear it down, there's so many different options, but at the end of the day, we're just the middleman. On this specific deal, we ended up locking up for 240 selling it for 265. We get that 25 000 margin and we didn't have to put up any deposit the end buyer put up the deposit. We have absolutely no risk in this property.

The only risk that we have is this deal falling out of contract and we lose out on an awesome deal, but there's systems in place to avoid that and we're closing on it tomorrow. Super excited - and this is our second official wholesale deal - that we've ever done as a business, which is super exciting. The really crazy thing about this is that we're always on the buyer's side, on the cash buyers side of working with wholesalers. So if you're a wholesaler, we love to work with you, we purchase properties, i would say mostly from wholesalers, if they're not purchased direct to seller or from people that contact us through instagram.

With that being said, it's just amazing that as time went on and we slowly began to learn more about this market. We now understand that there are more than just one solution: buying a property renovating it and then flipping it for a profit. You could also wholesale it like we did, which simply means reassigning the contract or, if you see potential in that specific area. Nick and myself have a goal this year for at least two rental properties, maybe an airbnb uh for 2022.

But again our main focus is still definitely still house flipping, so we are always looking to purchase properties cash. One of the things that i need you guys to know is that we don't borrow money. We don't have lenders so, therefore, if you have a specific deal that you guys would like us to purchase and or if you know, someone that is interested in selling their house to a cash buyer message us on instagram, our instagram links are going to be down Below we would love the opportunity to work with you, we can pay you thousands of dollars in a finders fee or we can partner up with you, we'll put up all the cash and actually do a rev split with you. So again, if you know someone, that's interested in selling their property or you've ever wanted to get started in real estate.

Make sure you message us down below i'm gon na grab my newborn baby because she's crying right now. All right guys really do appreciate you guys time. I hope that you learned something new in today's video and again we're really looking to partner up with some of you guys, especially if you're in the arizona area so make sure you message us down below with our instagram accounts. If you guys have any questions, comment down below and again really looking forward to sharing, not only our successes but, of course, our failures and the real estate market, i hope that we ended thumbs up.

Please consider subscribing and like always, let's make sure that we end the year on a green now, take it into tip.